We also want to thank Jamie Froedge for his significant work in establishing this industry-leading business, and we look forward to investing in this team as we build on the strong foundation.. The partnership's first acquisition was a $295 million buyout of Prime Succession from GTCR. The new flagship location will occupy 1,300 square meters in the OMNITURM in Frankfurts financial district and serve as a hub for Blackstone in Germany. [14], Blackstone has primarily relied on private equity funds, pools of committed capital from pension funds, insurance companies, endowments, fund of funds, high-net-worth individuals, sovereign wealth funds, and other institutional investors. Blackstone, Pure to acquire 1.5M-sq.-ft. Toronto industrial portfolio [19] In June 1989, Blackstone acquired freight railroad operator, CNW Corporation. Blackstone Real Estate has an agreement to acquire six Greater Toronto Area industrial properties comprising 1.5 million square feet of space for over $400 million. Tysons, Va. - March 14, 2023 - Cvent Holding Corp. ("Cvent") (Nasdaq: CVT), an industry-leading meetings, events and hospitality technology provider, today announced that it has entered into a definitive agreement to be acquired by an affiliate of private equity funds managed by Blackstone ("Blackstone") in a transaction valued at an enterprise Blackstone acquired the premium hotel operator for approximately $26 billion, representing a 25% premium to Hilton's all-time high stock price. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. BSP provides services to its Blackstone affiliates, not to investors in its funds, strategies or other products. Switchboard: +1 (212) 583-5000. "Schwarz" is German for "black"; "Peter", "Petros" or "Petra" ( and , the masculine and feminine rendering of the word, respectively), in Greek means "stone" or "rock". The combined entity created one of the largest credit platforms in the alternative asset management business, with over $21 billion under management. [56] La Quinta Inns & Suites was spun out for IPO in 2014 and was later acquired by Wyndham Hotels & Resorts[57]. The Firms most common exit type is trade sale (39%). Global private equity firm Blackstone on Monday announced that it is has entered into a definitive agreement to acquire over 60 per cent stake in edtech and digital skilling platform Simplilearn . [13], Blackstone also ventured into other businesses, most notably investment management. Financial Advisors, visit our dedicated website to learn how you can partner with Blackstone. Other notable investments that Blackstone completed in 2008 and 2009 included AlliedBarton, Performance Food Group,[79][80] Apria Healthcare and CMS Computers. Blackstone's most notable investments include Allied Waste,[39] AlliedBarton Security Services, Graham Packaging, Celanese, Nalco, HealthMarkets, Houghton Mifflin, American Axle, TRW Automotive, Catalent Pharma Solutions, Prime Hospitality, Legoland, Madame Tussauds,[161] Luxury Resorts (LXR), Pinnacle Foods, Hilton Hotels Corporation, Motel 6, Apria Healthcare, Travelport, The Weather Channel (United States) and The PortAventura Resort. Blackstone (NYSE: BX) and Sixth Street today announced that funds affiliated with Blackstone Tactical Opportunities (Blackstone) and Sixth Street, have completed the previously announced sale of Kensington Mortgages (Kensington), the fast-growing specialist mortgage lender, to Barclays Bank UK PLC (Barclays). In 2019, a United Nations report found that Blackstone's massive purchasing of single-family homes after the financial crisis of 20072008 had "devastating consequences. In April 2014, Blackstone's charitable arm, the Blackstone Charitable Foundation, donated $4 million to create the Blackstone Entrepreneurs Network in Colorado. 1. [166], In 2014, Blackstone sold Northern California office buildings for $3.5 billion. [82], In November 2013, Merlin Entertainments, owned in part by Blackstone Group, became a public company via an initial public offering on the London Stock Exchange. The company seeks to change the narrative for women by providing original content that places women at the forefront. [76], On June 21, 2007, Blackstone became a public company via an initial public offering, selling a 12.3% stake in the company for $4.13 billion, in the largest U.S. IPO since 2002.[77][78]. mega-sized private equity firm investors just like it. Blackstone Inc. agreed to buy student-housing owner American Campus Communities Inc. in a deal valuing the company at about $12.8 billion, including debt, a bet that rents will continue to rise as . [53], While Blackstone was active on the corporate investment side, it was also busy pursuing real estate investments. FGIC incurred heavy losses, along with other bond insurers in the 2008 credit crisis. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. Among the investments included in this segment are funds of hedge funds, mezzanine funds, senior debt vehicles, proprietary hedge funds and closed-end mutual funds. In October 2021, the Blackstone Group acquired a majority stake of Spanx, Inc. We do this by using extraordinary people and flexible capital to help companies solve problems. Blackstone paid $133 million for the property a discount to replacement cost, sources said and secured $65.8 million in Freddie Mac financing for the purchase. Blackstone acquires ACC in $12.8bn transaction April 21, 2022 in Private Equity BY Fraser Tennant In a transaction valued at $12.8bn, global investment business Blackstone Inc. is to acquire American Campus Communities (ACC), the largest developer, owner and manager of high-quality student housing communities in the US. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. Blackstone Group 's most notable exits include BC Partners , NCR , and Paysafe. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT). The Firm's most common exit type is trade sale (39%). For press inquiries, contact [emailprotected]. The industry is ready to fight back", "Norvergence reveals the real culprit of Amazon deforestation and wildfires", "Mandates of the Working Group on the issue of human rights and transnational corporations and other business enterprises and the Special Rapporteur on adequate housing as a component of the right to an adequate standard of living, and on the right to non-discrimination in this context", "Real Estate Roundtable Lobbying Profile", "UN accuses Blackstone Group of contributing to global housing crisis", Private investment in public equity (PIPE), Taxation of private equity and hedge funds, Private equity and venture capital investors, https://en.wikipedia.org/w/index.php?title=Blackstone_Inc.&oldid=1152370276, Companies listed on the New York Stock Exchange, Financial services companies based in New York City, Financial services companies established in 1985, Investment companies based in New York City, Private equity firms of the United States, Venture capital firms of the United States, Publicly traded companies based in New York City, Pages with non-numeric formatnum arguments, Pages containing links to subscription-only content, Articles with incomplete citations from September 2020, Short description is different from Wikidata, Articles containing potentially dated statements from 2019, All articles containing potentially dated statements, Articles with unsourced statements from February 2021, Official website different in Wikidata and Wikipedia, Articles with MusicBrainz label identifiers, Creative Commons Attribution-ShareAlike License 3.0, In December 2005, Blackstone together with a group of firms, including, Blackstone completed the $37.7 billion acquisition of one of the largest owners of commercial office properties in the US. Blackstone (NYSE:BX) announced that it will host its first quarter 2023 investor conference call via public webcast on April 20, 2023 at 9:00 a.m. [42], In October 2000, Blackstone acquired the mortgage for 7 World Trade Center from the Teachers Insurance and Annuity Association. This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where Blackstone Real Estate Income Trust ("BREIT") is authorized for distribution. In December 2008, Blackstone announced that Kailix would be spun off to its management team to form a new fund as an independent entity backed by Blackstone. KeyBanc Capital Markets Inc. also acted as a financial advisor. Blackstone's partners in the acquisition were Silver Lake Partners, Bain Capital, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and TPG Capital. The district court concluded that the complaint, by focusing exclusively on Blackstone's acquisition of Ancestry, did not adequately allege any compulsory disclosure, as required by Section 30 of GIPA. Blackstone Group's Blackstone Real Estate Income Trust (BREIT) has reached an agreement for the acquisition of Home Partners of America (HPA). At the end of 2002, Blackstone, together with Thomas H. Lee Partners and Bain Capital, acquired Houghton Mifflin Company for $1.28 billion. The properties will complement its already significant holdings under Blackstone's subsidiary Pure Industrial, which it acquired and privatized in 2018 in a $3.8 billion transaction. In March 2018, Blackstone's Strategic Capital Holdings Fund invested in, In March 2018, the company's Strategic Capital Holdings Fund announced an investment in, In August 2018, PSAV was able to merge with, In September 2018, the company acquires control of. [160] From 1987 to its IPO in 2007, Blackstone invested approximately $20 billion in 109 private equity transactions.[14]. For press inquiries, contact[emailprotected]. At the time of its announcement, the EQ Office buyout became the largest in history, surpassing the buyout of, A consortium led by Blackstone and including the, Blackstone, together with Bain Capital, acquired Michaels, the largest arts and crafts retailer in North America in a $6.0 billion leveraged buyout in October 2006. Companies Contacts Investors Funding Rounds Acquisitions People Events . By selecting the relevant option, you certify that it accurately reflects your residency. In July 2020, Blackstone invested US$200m in the Swedish oat milk brand, In August 2020, Blackstone announced that it will buy a majority stake in. . Hipgnosis and Blackstone acquire 80% of Kenny Chesney's recorded music royalties January 19, 2022 By Tim Ingham Press Kenny Chesney Three months ago, MBW revealed that Merck Mercuriadis 's Hipgnosis had struck a mega-money partnership deal with investment titan Blackstone. In November 2012, the company acquired a controlling interest in Vivint, In April 2013, the company discussed buying, In June 2013, Blackstone Real Estate Partners VII acquired an industrial portfolio from, In September 2013, Blackstone announced a strategic investment in ThoughtFocus Technologies LLC, an, In August 2013, Blackstone acquired Strategic Partners, manager of, In February 2014, Blackstone purchased a 20% stake in the Italian luxury brand.