Blackstone to raise $4B Asia property fund.

Blackstone (BX) reportedly intends to raise a $4B Asian real-estate fund, double the private-equity firm's initial target. The fund would be the largest of its type devoted to Asia, with Blackstone believing that falling property prices have provided good opportunities. Meanwhile, the company has forecast a net annual return of 18% for its $13.3B global fund, which closed its capital-raising last year.