New York Blackstone will host its first quarter 2023 investor conference call via public webcast on April 20, 2023 at 9:00 a.m. [167] The buildings sold in San Francisco and Silicon Valley included 26 office buildings and two development parcels. Blackstone was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman with $400,000 in seed capital. We do this by using extraordinary people and flexible capital to help companies solve problems. Hilton Grand Vacations and Blackstone Form Joint Venture to | Hilton www.blackstone.com. Student housing is a compelling sector with strong historical performance and future growth potential driven by increasing enrollment at the top universities in the U.S. as well as a shortage of quality housing supply. The largest investors in the first fund included Prudential Insurance Company, Nikko Securities and the General Motors pension fund. Blackstone is the world's largest alternative asset manager, with $991B in AUM. With 1,201 units, Elara is one of the world's . For information on our privacy practices see our Privacy Policy. Blackstone Funds Complete $13 Billion Acquisition of American Campus [163], The purchase and subsequent IPO of Southern Cross led to controversy in the UK. In 2009, Blackstone purchased Busch Entertainment (comprising the Sea World Parks, Busch Garden Parks and the two water parks). FGIC incurred heavy losses, along with other bond insurers in the 2008 credit crisis. Follow @blackstone on LinkedIn, Twitter, and Instagram. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. This is a critical moment for both the business and the industry as we look to bring innovative, efficient, and sustainable heating, cooling, and refrigeration products to customers amidst broad demand for carbon reduction solutions. [4]:148155, Blackstone Real Estate Advisers, its real estate affiliate, bought the Watergate complex in Washington D.C. in July 1998 for $39 million[41] and sold it to Monument Reality in August 2004. Medline to sell majority stake to Blackstone, Carlyle and - CNBC [29] Silverman would ultimately leave Blackstone to serve as CEO of HFS, which would later become Cendant Corporation. Blackstone, Kohlberg Kravis Roberts, TPG Capital and Goldman Sachs Capital Partners acquired Biomet, a medical device manufacturer for $10.9 billion. Mr. Shuster is a veteran executive who brings more than 25 years of leadership experience that will enable the business to unlock meaningful value in its next phase as a standalone company. The company was sold to Kohlberg Kravis Roberts in 2012. In December 2020, Blackstone invested nearly $400 million in Liftoff, a mobile advertising company. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties. [37] In 1998, Blackstone sold a 7% interest in its management company to AIG, valuing Blackstone at $2.1 billion. Blackstone provides $1.2-billion in financing to Westland Insurance Their most recent diversity investment was on Nov 9, 2021, when Renaissance Learning raised Blackstone Group has had 62 exits. [51][52], In 2006, Blackstone launched its long/short equity hedge fund business, Kailix Advisors. Blackstone completes acquisition of Crown Resorts in the firm's largest Blackstone is the world's largest alternative asset manager, with $991B in AUM. Press Releases Archives - Blackstone Thomson Reuters and Blackstone's consortium subsequently agreed to sell Refinitiv to LSEG in August 2019. In total, The Blackstone Group has invested in 27 US states and 27 different countries. For press inquiries, contact[emailprotected]. NEW YORK and OVERLAND PARK, Kan. - August 31, 2021 - Blackstone (NYSE: BX) and QTS Realty Trust (NYSE: QTS) today announced that affiliates of Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc., and Blackstone Property Partners have completed their previously announced acquisition of QTS Realty Trust for approximately Blackstone announced that it will open a new office in Frankfurt, Germany. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. Including its owned and third-party managed properties, ACCs total managed portfolio consisted of 204 properties with approximately 143,100 beds. about Blackstone Real Estate Announces Sale of a Logistics Portfolio in Japan, Representing One of the Largest Logistics Portfolio Transactions in the Country, about Ross B. Shuster to Join as CEO of Standalone Climate Technologies Business Following the Close of the Acquisition by Blackstone from Emerson, about Blackstone Reports First Quarter 2023 Earnings Results, about Blackstone Announces $30.4 Billion Final Close for Largest Real Estate Drawdown Fund Ever, about Blackstone Announces First Quarter 2023 Investor Call, about Blackstone Announces Opening of New Office in Frankfurt, Germany, about Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction, about Blackstone and Sixth Street Complete Sale of Kensington Mortgages to Barclays Bank UK PLC, about Blackstone to Present at the Bank of America Securities Financial Services Conference 2023, Individual Investors & Financial Advisors, Blackstone Real Estate Announces Sale of a Logistics Portfolio in Japan, Representing One of the Largest Logistics Portfolio Transactions in the Country, Ross B. Shuster to Join as CEO of Standalone Climate Technologies Business Following the Close of the Acquisition by Blackstone from Emerson, Blackstone Reports First Quarter 2023 Earnings Results, Blackstone Announces $30.4 Billion Final Close for Largest Real Estate Drawdown Fund Ever, Blackstone Announces First Quarter 2023 Investor Call, Blackstone Announces Opening of New Office in Frankfurt, Germany, Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction, Blackstone and Sixth Street Complete Sale of Kensington Mortgages to Barclays Bank UK PLC, Blackstone to Present at the Bank of America Securities Financial Services Conference 2023. By submitting this request, you consent to receive email from Blackstone. ", "Blackstone snaps up Ancestry.com in $4.7bn deal", "Blackstone buys Takeda's over-the-counter business for $2.3bn", "Blackstone will invest close to $400 million in mobile app marketer Liftoff", "Butlin's owner Bourne Leisure slumps to loss as pandemic takes toll", "Blackstone Bids to Buy Australia's Crown Resorts", "Blackstone rolls the dice with $6.2 billion move on Australia's Crown Resorts", "Hasbro to Sell EOne Music Unit to Blackstone for $385 Million - BNN Bloomberg", "MGM Resorts International Announces Agreements To Purchase Infinity World's 50% Interest In CityCenter And Monetize CityCenter Real Estate Assets", "AIG to sell life and retirement unit stake to Blackstone, another with IPO", "Liftoff and Vungle Merge: 2 Top-Ten Mobile Ad Networks Owned By Private Equity Fund Blackstone Combine Forces", "Blackstone buys majority stake in SPANX, Inc", "Blackstone to Acquire Nucleus Network, Australia's Largest Phase One Clinical Trials Specialist", "Australia's Crown Resorts backs US$6.3 billion Blackstone buyout offer", "Crown Resorts Finalizes $6.6B Blackstone Group Acquisition", "Blackstone to buy American Campus Communities for nearly $13 billion", "Blackstone Is Buying PS Business Parks for $7.6 Billion", "Blackstone, Emerson Electric Strike $14 Billion Buyout Deal", "Emerson selling climate technologies in $14B deal", "PEI 300: KKR beats the crowd to claim PE's throne", "Blackstone buys security firm Vivint for over $2 billion", Blackstone Real Estate Investment Portfolio, "Blackstone to Buy Stakes in Apartment Complexes From GE Unit", "Blackstone to Sell California Office Buildings for $3.5 Billion", "Blackstone traekker sig fra omstridt ejendomhandel (Blackstone withdraws from disputed real estate trade)", "Blackstone's BREIT slump looks nasty but not fatal", "Blackstone Just Limited Withdrawals From REIT", "Blackstone to acquire GSO Capital, buy back shares", "Blackstone to Buy Hedge Fund to Strengthen Credit Operations", "Motel 6 to pay $7.6 million for giving guest lists to U.S. immigration", "Motel 6 pays $12 million for sharing guest lists with U.S. immigration: Washington AG", "A Top Financier of Trump and McConnell Is a Driving Force Behind Amazon Deforestation", "Warren says Blackstone worsening climate change in new private equity salvo", "The Finance 202: Elizabeth Warren is escalating attacks on private equity. 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. ET [46], In 2002, Hamilton E. James joined global alternative asset manager Blackstone, where he currently serves as president and chief operating officer. Previously, he spent 12 years with United Technologies, holding several leadership positions including as a business unit President within the Climate, Controls & Security Global Business. [173][53], In separate cases in 2018 and 2019, the hotel chain Motel 6, owned by Blackstone, agreed to settle for a total of $19.6 million for giving guest lists to U.S. Immigration and Customs Enforcement (ICE) without a warrant. (212) 583-5000 As of Q3 2022, the company's total assets under management were approximately US$951 billion, making it the largest alternative investment firm globally.[3]. See 28 U.S.C. Blackstone Group has acquired 148 organizations. 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. ET. Blackstone said it has received a $1 billion credit facility as part of the financing for the deal. 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. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. PIRET will be acquired by Blackstone Property Partners in a $3.8 billion transaction. See here for a complete list of exchanges and delays. Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B. The transaction was announced on April 19, 2022. During the buyout boom of 2006 and 2007, Blackstone completed some of the largest leveraged buyouts. In October 2021, Blackstone acquired the Nucleus Network, Australia's premier clinical researcher, who are providing staple 'healthy' volunteers large financial rewards for drug trials. Reuters reported last month that Cvent had rejected a previous offer of $3.9 billion from Blackstone and said it was exploring a sale that could value it at about $4 billion, citing a person familiar with the matter. ET. [168], In 2018, a critique was raised regarding a purchase agreement on several hundred apartments in Frederiksberg, Denmark, between Blackstone's Danish partner North 360 and Frederiksberg Boligfond, a non-profit housing organization established by Frederiksberg Municipality in 1930. To view recent press releases, click here. [36] Also in 1997, Blackstone made its first investment in Allied Waste. Blackstone Group - Investments, Portfolio & Company Exits - CrunchBase Blackstone expands further into rental housing in the United States. Otherwise, we will assume you're OK to continue. IDG, Inc. and its subsidiaries have made multiple recent acquisitions to further increase its capabilities for its customers. In January 2008, Blackstone made a small co-investment alongside TPG Capital and Apollo Management in their buyout of Harrah's Entertainment, although that transaction had been announced during the buyout boom period. Nikko's investment allowed for a major expansion of the firm and its investment activities. Blackstone to Acquire International Data Group, a Leading - Foundry Blackstone provides $1.2-billion in financing to Westland Insurance Group to fund acquisitions - The Globe and Mail Blackstone provides $1.2-billion in financing to Westland Insurance Group. 6/3/2021. Switchboard: +1 (212) 583-5000. The Firm - Blackstone The Blackstone Group was formed in 1987 and is based in New York City. 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 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. TOKYO, April 28, 2023 Blackstone (NYSE: BX) today announced the sale of a portfolio of six logistics assets located across Japan to GIC for more than US$800 million. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Blackstone's REIT Limits Withdrawals for the Sixth Month in a Row Blackstone Group 's most notable exits include BC Partners , NCR , and Paysafe. In 2012, Blackstone acquired a controlling interest in Utah-based Vivint, Inc., a home automation, security, and energy company. Tysons, Virginia-based Cvent's shares, which fell about 34% last year, rose about 12% to $8.29 on Tuesday. Ross B. Shuster to Join as CEO of Standalone Climate Technologies Blackstone's investment in Allied was one of its largest at that point in the firm's history. [181], United Nations housing rapporteur Leilani Farha and Surya Deva, chair of the UN Working Group on Business and Human Rights, criticized Blackstone's business practices, including frequent rent increases and "aggressive" evictions, for contributing to the global housing crisis. [38] In 1999, Blackstone partnered, together with Apollo Management to provide capital for Allied Waste's acquisition of Browning-Ferris Industries. There are numerous opportunities to further invest in this business for the benefit of the team, our customers, and, very importantly, for the world around us. Switchboard:+1 (212) 583-5000. [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]. [174][175], The company has invested in companies with links to the commercialization and deforestation of the Amazon rainforest.[176][177][178][179]. [50], Two years later, in 2005, Blackstone was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $11.3 billion. 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 [28] In 1993, Hospitality Franchise Systems acquired Super 8 Motels for $125 million. By submitting this request, you consent to receive email from Blackstone. List of Blackstone Group 's 148 Acquisitions, including Cvent and R Systems. Blackstone is a global leader in real estate investing. 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. Financial Advisors, visit our dedicated website to learn how you can partner with Blackstone. [14], In March 2008, Blackstone acquired GSO Capital Partners, a credit-oriented alternative asset manager, for $620 million in cash and stock and up to $310 million through an earnout over the next five years based on earnings targets. Over 24 years, we've successfully placed superior resources from CEOs and C-suite officers, Directors, and Managers to Database Architects, Business Analysts, and SAP, Oracle, and Netsuite Implementation Program Managers in our clients' facilities. According to Blackstone, as of September 30, 2008, Kailix Advisors had $1.9 billion of assets under management. BSP provides services to its Blackstone affiliates, not to investors in its funds, strategies or other products. 1332(d). These statements are based on the Companys (as defined below) and BREITs, as applicable, current expectations and assumptions regarding markets in which American Campus Communities, Inc. (the Company) and BREIT respectively operates, their respective operational strategies, anticipated events and trends, the economy, and other future conditions. Melbourne, June 24, 2022 - Blackstone (NYSE: BX) today announced that real estate funds and private equity funds managed by Blackstone ("Blackstone") have completed the acquisition of Crown Resorts Limited ("Crown") in the largest transaction to date for the firm in Asia Pacific. It denied blame, although Blackstone was widely accused in the media for selling on the company with an unsustainable business model and crippled with an impossible sale and leaseback strategy. The transaction, comprising 4 million square feet of warehouses, is one of the largest logistics portfolio transactions ever reported in Japan, and reinforces Blackstones commitment to []. Blackstone Group elevates India PE head Amit Dixit to head of Asia PE Under Dixit, Blackstone did many big ticket deals in India, including a deal to acquire Piramal Glass from Ajay Piramal group at an enterprise valuation of Rs 7,500 cr Raghavendra Kamath Mumbai Premium Amit Dixit 2 min read Last Updated : May 04 2021 | 9:38 PM IST In November 2015, the company agreed to sell facility management firm GCA Services Group to. By selecting the relevant option, you certify that it accurately reflects your residency. Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone. Blackstone's largest transaction, the $26 billion buyout of Hilton Hotels Corporation occurred in 2007 under the tenure of Hilton CFO Stephen Bollenbach. [4]:144147 He left Blackstone in 1999 to start his own private equity firm, Heartland Industrial Partners, based in Greenwich, Connecticut. The close of the transaction remains on track for the first half of the 2023 calendar year.The standalone Climate Technologies business includes the market-leading Copeland compressor business and the entire portfolio of products and services across all HVACR end-markets, representing approximately $5.0 billion of Emersons fiscal 2022 sales. Will Put $1.35 Billion Into Blackstone, A trash hauler is buying a much bigger rival, a type of deal that makes Wall Street a bit nervous, "Blackstone Acquires Debt on 7 World Trade Center", Vivendi Finishes Sale of Houghton Mifflin To Investors, "At Blackstone, James Builds A Following", Blackstone Group May Purchase Auto Parts Business From TRW, Blackstone Buys Majority Stake in Columbia House, A Split-Up of Insurers of Bonds Is Considered, Capital Firms Agree to Buy SunGard Data in Cash Deal. For office-specific contact information, please visitour offices page. Switchboard: +1 (212) 583-5000. Dentons US LLP served as ACCs legal counsel. Blackstone Group on November 15, 2019, invested $167 million in the holding company of Future Lifestyle Fashions Ltd., Ryka Commercial Ventures Pvt. No stranger to data centers, Blackstone and its affiliates of Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc., and Blackstone Property Partners bought the REIT for $10 billion and took the company . Austin, Texas and New York - August 9, 2022 - Blackstone (NYSE: BX) today announced that Blackstone Core+ perpetual capital vehicles, primarily comprising Blackstone Real Estate Income Trust, Inc. ("BREIT") and Blackstone Property Partners ("BPP"), have completed the previously announced acquisition of all of the outstanding shares of common Blackstone's most notable transactions during this period included the following: In 2004, Blackstone had explored the possibility of creating a business development company (BDC), Blackridge Investments, similar to vehicles pursued by Apollo Management. Cvent was valued at $5.3 billion in 2021 when Vista, which had acquired it for $1.65 billion a few years ago, took it public in a merger with a blank-check acquisition company. In March 2007, RGIS announced that Blackstone Group purchased a controlling interest in the company, the terms of the transaction were not disclosed. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. The transaction values the Chicago-based firm at $6 . The Blackstone Group Mergers and Acquisitions Summary | Mergr [4]:176,197,206207[48] Blackstone also purchased a majority interest in Columbia House, a music-buying club, in mid-2002. Ross brings the necessary skills and experience scaling global, sustainability-focused businesses to capitalize on this environment. Blackstone Portfolio Exits - CB Insights Stockman led many key deals in his time at the firm, but had a mixed record with his investments. Blackstone will pay US$6.6 billion for 90% of shares outstanding. [45], With a significant amount of capital in its new fund, Blackstone was one of a handful of private equity investors capable of completing large transactions in the adverse conditions of the early 2000s recession. - October 27, 1997", The Loewen Group and Blackstone Capital Partners form corporate venture to acquire Prime Succession, Loewen And Blackstone To Make Joint Purchase, Loewen Buys Big Cemetery, And Its Suitor Criticizes Deal, Red-Hot Revival in Real Estate; Overheating Is Feared With Surge in Vulture Investing, "Blackstone Group Creates Buyout Fund for $4 Billion", A.I.G. "Blackstone To Rationalize Single Manager Hedge Funds Businesses In Efficiency Move", The Blackstone Group to Acquire Prime Hospitality Corp, "Steve Bollenbach, hospitality executive, 1942-2016", Private-Equity Firm Sees Room for Value in Hotels, "Here's Why Wyndham Worldwide Just Bought La Quinta", Blackstone's Bid for Equity Office Prevails, Blackstone Alliance to Buy Chip Maker for $17.6 Billion, VNU Shareholders Reject $8.9 Bln Offer From KKR Group, VNU Agrees To Public Offer From Private Equity Group, "Blackstone Plans to Acquire Cendant Travel Services Unit", "Private-equity companies snap up United Biscuits in a 1.6bn deal", "Blackstone and PAI complete purchase of UB", "The Blackstone Group Has Completed Its Acquisition of a Controlling Interest in RGIS", "Biomet, Inc. to Be Acquired by Private Equity Consortium for $10.9 Billion or $44 Per Share in Cash", Blackstone to Buy Hilton Hotels for $26 Billion, Private Firms Use Closed-End Funds to Tap the Market, "KKR buys Alliant in 'pass the parcel' deal", Blackstone Founders Prepare to Count Their Billions, News Analysis Behind the Veil at Blackstone? The private equity firm said it would acquire Preferred Apartment Communities, a real estate investment trust, for $6 billion. "Located in one of the most dynamic submarkets in Atlanta, our purchase of Ellington Midtown illustrates our ability to deploy capital in our high-conviction investment themes even during volatile times," Asim Hamid, senior . [166], In 2014, Blackstone sold Northern California office buildings for $3.5 billion. Blackstone had been an original investor in GSO's funds. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Blackstone acquires ACC in $12.8bn transaction - Financier Worldwide For information on our privacy practices see our Privacy Policy. [85], Blackstone operates through four primary departments: private equity; real estate; hedge funds; and credit. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. The Blackstone Group Inc. BX, via its private equity label, has inked a $1.4 billion deal to acquire Sphera, a pioneer in providing environmental, social and governance ("ESG") software, data and. In 2020, it purchased Triblio to expand its software-as-a-service platform and . The deal includes assets worth $2.6 billion. Blackstone spent at least $6.2 million to defeat California's Proposition 10, which would have allowed cities to enact rent control. Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction

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