NEW YORK, Feb 23 (Reuters) - Blackstone Inc (BX.N), the world's largest private equity firm, is set to raise as much as $10 billion for its tactical opportunities strategy, which gives it versatility to invest in a range of assets, people familiar with the matter told Reuters.
Blackstone has amassed about $5 billion for the Blackstone Tactical Opportunities Fund IV, which was initially aiming to raise only $4 billion, Reuters previously reported.
Blackstone has raised three previous tactical opportunities funds that cumulatively collected about $16.4 billion from investors since the first of them was first launched in 2012.
The $6.7 billion Blackstone Tactical Opportunities Fund II and the Tactical Opportunities Fund III, which raised $4.09 billion, had generated a net internal rate of return of 14.1% and 11.7%, respectively, as of June last year, according to the California Public Employees' Retirement System.
Blackstone's tactical opportunities division has about $34 billion in assets under management.