Blackstone is raising more than $10 billion to invest in property assets, The Telegraph reports. The U.S. buy-out firm is seeking to raise capital to invest in distressed property and assets.

The fund will primarily target properties in the U.S. and Canada and focus on high-quality assets fixed in large complex situations. The new offering, Blackstone Real Estate Partners VII, is the seventh property-specific fund of the firm.

Click here for the story from The Telegraph.