Blackstone has cemented its position as the dominant force in European real estate, smashing fundraising records and making blockbuster acquisitions, according to the latest PERE Awards. The mega-manager closed a dedicated European real estate fund, Blackstone Real Estate Partners Europe VII, raising a staggering €9.8 billion – the largest-ever such fundraiser, matching its own 2020 record. This achievement propelled the firm to top honors, winning awards for Firm of the Year, Capital Raise of the Year, and Industry Figure of the Year for James Seppala. €700 million for the Paris office property Centre d'Affaires Paris Trocadéro acquisition further showcased its aggressive buying power, helping to lead a broader office investment recovery across Europe, where office deals hit a record €52.7 billion in volume.

While Blackstone dominated in fundraising and office, it was notably absent from other PERE award categories, highlighting its specific focus. Its European dominance, however, is far from new, with the manager representing roughly 30% of its global portfolio by asset value as of June. The firm's high-conviction strategies in logistics, lodging, and data centers are driving its success, leveraging its deep European team and network built over 25 years.