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Blackstone joins KKR and BlackRock in Mexico private equity fundraising

(Reuters) – Blackstone Group (BX.N) has raised $695 million from Mexican pension funds for its first two local private equity funds, filings showed, joining Black Rock and KKR & Co (KKR.N) in expanding in Mexico following regulatory changes.

Several of the world’s top private equity managers have quietly raised billions of dollars from Mexican pension funds, known as afores, since new rules were enacted early last year, filings to the Mexican Stock Exchange and a non-public document reviewed by Reuters showed. Regulators have authorized some managers to raise more over time.

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