Blackstone, the world’s largest alternative asset manager, has raised the largest real estate fund in history at $30B. The co-head of real estate for Blackstone Global, Kathleen McCarthy, has detailed how and where the firm will spend the money, which sectors it will avoid, and how it will avoid becoming prey rather than a predator when the market turns. McCarthy says the company will focus on data centers, rental housing, life sciences, hotels, and industrial sectors. Blackstone currently has the largest portfolio in real estate, valued at $326B, but has only spent $674M of the fund raised so far.
