Blackstone has raised $8 billion in its most recent real estate debt fund, the world's largest alternative asset manager said on Friday, a sign that the property sector is seeing a recovery after a couple of tumultuous years.

The fund took two years to build and will be active in North America, Europe and Australia.

The titanic alternative assets giant's latest move will help bridge a gap between lenders and still-challenged property owners, says debt strategies head.

The private equity giant's latest fund will target assets in North America, Europe and Australia. It plans to issue new loans and buy existing debt.

Blackstone has raised $8 billion in its most recent real estate debt fund, the world's largest alternative asset manager said on Friday, a sign that the property sector is seeing a recovery after a couple of tumultuous years.

Blackstone Inc. secured about $8 billion in capital commitments for a new real estate debt fund, the latest effort to seize on dislocations in the property market.

Deployment of the capital on originating and buying loans will take place in North America, Europe and Australia.

The world’s largest asset manager, Blackstone Inc (BX), announced that it has raised $8 billion for its most recent real estate debt fund, Blackstone Real Estate Debt Strategies V. According to a Reuters report,

Blackstone (NYSE:BX) closed on an $8B commercial real estate debt fund this week, matching a record for the type of vehicle and providing some optimism for a rebound in the sector, according to a media report.