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Blackstone closes record private equity fund at $26B

Blackstone Group Inc. pulled in $26 billion for Blackstone Capital Partners VIII LP, Private Equity International reported, citing founder Stephen Schwarzman's memoir.

The fund is the biggest private equity vehicle raised to date, beating previous record holder Apollo Investment Fund IX, which is managed by Apollo Global Management Inc., according to the report.

Schwarzman wrote in his memoir What It Takes: Lessons in the Pursuit of Excellence, published in September, that he did not make any presentation to investors for the fundraising, calling it a "proud moment" for him, PEI noted.

The private equity giant was earlier reported to have set a cap of $25 billion for the fund.