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With Blackstone (BX) closing a new $13.3B property fund, investors fear that the size of the...
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Wednesday, September 5, 2012, 5:42 AM ETWith Blackstone (BX) closing a new $13.3B property fund, investors fear that the size of the vehicle will mean lower returns, as has generally been the case as the firm's funds have got bigger. Blackstone's Jonathan Gray brushes off the concerns, citing "an enormous amount of distressed real estate" and few large firms that can take advantage. "We think this is a terrific environment...to generate attractive returns."
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