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Blackstone (NYSE:BX) is in the process of raising money for its third private equity fund.
The new fund, which will hold assets for longer than usual, will seek to invest in 8 to 10 companies, with cheque sizes totaling $800 million to $1 billion, Bloomberg reported.
Sources familiar with the topic told Bloomberg that the firm has told investors that it will make a more formal fundraising pitch for its core private equity fund sometime this year.
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