Blackstone has held the final close of Blackstone Growth (BXG), its inaugural growth equity fund, which was oversubscribed, at its hard cap of USD4.5 billion in third-party capital commitments from a wide range of family offices, entrepreneurs, endowments, strategic institutional investors, pension funds, high-net-worth individuals, and other investors.

Blackstone says the fund is the largest first-time growth equity private fund raised in history.

Blackstone Growth, Blackstone’s global growth equity business, invests in fast-growing companies, helping them expand their potential through the power of the Blackstone platform. Leveraging Blackstone’s extensive operational resources and network, BXG focuses on providing capital to entrepreneurs seeking to minimise the execution risks associated with high-growth environments.

Since it began investing in 2020, BXG has already made a number of significant investments, including in the online dating company Bumble that recently completed a successful initial public offering; oat milk pioneer, Oatly; leading enterprise software business, ISN; and Epidemic Sound, which delivers restriction-free music to internet content creators across the globe.

Read more/Source: Private Equity Wire