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NEW YORK CITY-The Blackstone Group announced the closing of its latest global private equity fund, Blackstone Capital Partners V (BCP V), with commitments of $15.6 billion, creating the world’s largest private equity fund and looking to invest across a broad range of sectors and geographical locations.

Several significant investments have already been committed to BCP V including VNU N.V. (Netherlands), Michaels Stores Inc. (USA), Cendant’s Travelport unit (Global), Encore Medical Corporation (USA), Center Parcs (UK), Emcure Pharmaceuticals Limited (India) and Deutsche Telekom A.G. (Germany), with a total enterprise value of approximately $30 billion. The combined equity participation in these seven transactions already accounts for more than 25% of the new fund’s available capital.

Stephen A. Schwarzman, chairman & CEO of The Blackstone Group, said in a statement, “The record-breaking amount of capital now at our disposal will allow us to undertake transactions of a size and complexity that was inconceivable just a few years ago, and at a level where there is far less competition for high quality assets.”

The Blackstone Group started its private equity investment business in 1987. To date it has raised more than $63 billion for alternative investing.

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