Blackstone raises over $22B for flagship buyout fund: Bloomberg

Blackstone LP (BX) will ultimately raise $25B+ for this latest PE Fund. Apollo Global LP (APO) last PE Fund was $24.7B. Brookfield Asset Management (BAM) latest PE fund on first closing was $9B so they have ways to go before they catch up with BX and APO in private Equity. I think they will over next 3-5 years. Berkshire Hathaway (BRK.B) also has $100B cash looking for PE like take private deals.

Most important question is where will this money be invested and when. Looks like everyone is counting on another crisis to come along some day to get their money invested. Time will tell when this occurs and what kind of returns these PE firms will generate. They have learnt over last 30 years that cycles eventually turn. This cycle with manipulated low interest rates is a new one so will be interesting to see how this cycle ends and what causes it.
Blackstone raises over $22B for flagship buyout fund: Bloomberg