Reuters

(Reuters)

Report: Blackstone Looks to Raise $16B for New Fund

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Blackstone Group LP is aiming to raise about $16 billion for its latest buyout fund, the Wall Street Journal reported, citing sources familiar with the matter.

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The firm has already issued marketing documents for Blackstone Capital Partners VII LP, the newspaper reported.(http://on.wsj.com/X9Ji3o)

The fund's predecessor, Blackstone Capital Partners VI LP, was launched in 2008 and closed four years later, raising just over $16 billion in investments, challenged by the global financial crisis.

Blackstone Capital Partners VI attracted some of the world's largest private-equity investors, including the California Public Employees' Retirement System and Canada Pension Plan Investment Board, according to disclosures by these pension funds. (http://reut.rs/1Dd6Cie)

Blackstone declined to comment on the matter.