Christopher Witkowsky

The $11.4bn pension is to allocate $305m to real estate, infrastructure and commodoties although admits it has not committed to a real estate fund since early last year.

The firm, which anticipates closing Fund VI on $13.5bn, agreed to an 80/20 transaction fee split for Oregon with a slight increase in management fees - a deal it's offering all the fund's LPs.

Tough fundraising conditions have forced the Texas-headquartered firm to revise its prior plan to raise a combined $20bn for Lone Star Real Estate Fund II and Lone Star Fund VII.

The firm has ‘reduced, refinanced or extended’ more than $52bn of its debt across its businesses since 2009, which has helped drive value creation, according to Blackstone executives.

The firm’s sixth real estate fund, which collected $11bn in 2008, has recovered from its lows of about 46 cents on the dollar to about 85 cents on the dollar, Steve Schwarzman said during an earnings call Thursday.

The Steve Schwarzman-led firm, which reported a 35% rise in private equity profits over a six month period, will soon close its global buyout fund.

The UK pension ‘lifeboat’ has hired Goldman Sachs, Pantheon, Hamilton Lane, Lexington, LGT, Partners Group and RREEF as advisors.

The UK’s £3.9bn pension lifeboat, which earlier this year created a 20% allocation to alternatives, will hire managers to run a credit strategy within the alternatives carve-out.

The Leon Black-led firm, which filed an IPO earlier this year for up to $50m, has hired Gene Donnelly to fill the position left by Kenneth Vecchione.

The $132bn pension is making a big commitment to identify ‘errant’ GPs as part of a process to reduce its relationships.