By Benjamin Horney ( June 25, 2018, 4:52 PM EDT) -- The Blackstone Group LP has raised about $5 billion for its debut infrastructure fund, and the private equity firm is on the verge of holding a first close for the investment vehicle, according to a Monday report from Bloomberg. The report said Blackstone anticipates raising a total of about $40 billion for the fund, which is billed as Blackstone Infrastructure Partners. The Public Investment Fund of Saudi Arabia, or PIF, is said to be investing up to $20 billion in the fund, the report noted, "on the condition that every dollar would be matched against commitments from other investors." Despite that enormous $20 billion commitment, PIF will hold only a minority position in any given deal made by the fund, the report said, and will have "no investment discretion."...