Blackstone Plans European Property Fund for Retail Investors (1)

Blackstone Group Inc., the world’s largest private equity firm, is planning to start a European property fund aimed at mom-and-pop investors.

The new fund will likely come with a minimum investment commitment of about 25,000 euros ($29,860), according to people with knowledge of the matter. Regulators have approved the strategy, which will focus on real estate assets that generate steady rental income, the people said, asking not to be identified as the plan is private.

A spokeswoman for Blackstone declined to comment.

Blackstone has pushed into products for retail investors over the past decade, amassing more than $100 billion ...