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Firm set to raise €10bn

Blackstone Group, the private equity firm locked in battle with developer Michael O'Flynn over the future of the O'Flynn Group, is preparing to raise around $13bn (€10.2bn) to invest in property.

The firm's new flagship global real estate fund is on the same scale as its last war chest, according to people familiar with the matter.

Blackstone's assets in Ireland include the Double Tree by Hilton Hotel, formerly known as the Burlington.