Blackstone Targets Richer Clients Than Its Rivals for a New Fund

What You Need To Know

• Unlike rivals, the private equity firm will only sell its latest product to those with at least $5 million of investments.
• KKR and Apollo have already set up infrastructure vehicles to raise money from those with a net worth of more than $1 million.
• Blackstone's new fund will charge an annual management fee of 1.25% and take 12.5% of total returns.