Blackstone eyes as much as $10 billion for next big growth fund

In 2020, the value of growth equity deals hit a record $62.5 billion, according to data from PitchBook

Blackstone is setting out to raise one of the largest growth equity funds on record. The investing giant may seek as much as $10 billion for a second fund targeting fast-growing companies, more than twice the size of its debut fund for that strategy, according to people with knowledge of the matter. 

The firm has started sounding out market participants on how much it hopes to raise but has yet to set a precise target, one of the people said.

Such deals are aimed at companies that have grown beyond their start-up roots but aren’t yet seen as ripe buyout targets or