Blackstone Group’s new buyout fund has reached around $16 billion in size, The Wall Street Journal reports. The vehicle, which had already reached around $15 billion in December last year, got further investor interest primarily from sovereign wealth funds, leading to the increase in size.

The New York-based private equity group started making investments for the fund on January 7. Blackstone executives were expecting the new fund to be sized at about $13.5 billion last year.

Click here for the story from The Wall Street Journal.