Blackstone's largest transaction, the $26 billion buyout of Hilton Hotels Corporation occurred in 2007 under the tenure of Hilton CFO Stephen Bollenbach. An investment in BREIT involves risks. throughout the United States. Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. In 2009, Blackstone purchased Busch Entertainment (comprising the Sea World Parks, Busch Garden Parks and the two water parks). . 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. Blackstone Inc. is an American alternative investment management company based in New York City. See 28 U.S.C. [56] La Quinta Inns & Suites was spun out for IPO in 2014 and was later acquired by Wyndham Hotels & Resorts[57]. [4]:221223, In 2007, Blackstone acquired Alliant Insurance Services, an insurance brokerage firm. As of today's closing, Thomson Reuters indirectly owns 82.5 million LSEG shares, which have a market value of approximately $9.8 billion based on LSEG's closing share price on January 28, 2021. 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. The company was sold to Kohlberg Kravis Roberts in 2012. Switchboard:+1 (212) 583-5000. 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. Blackstone Completes Acquisition of International Data Group, a Leading Brown: independent director, This page was last edited on 29 April 2023, at 20:50. Our scale - with more than 12,000 real estate assets and 250 portfolio companies - enables us to invest in dynamic sectors positioned for long-term growth. After two years of providing strictly advisory services, Blackstone decided to pursue a merchant banking model after its founders determined that many situations required an investment partner rather than just an advisor. Blackstone (NYSE: BX) is a private equity, investment banking, alternative asset management, and financial services corporation that specializes in investment strategies, as well as financial advisory services. To receive email alerts from Blackstone, sign up below. Their most recent diversity investment was on Nov 9, 2021, when Renaissance Learning raised Blackstone Group has had 62 exits. Blackstone (NYSE: BX) announced that, upon close of the previously announced transaction through which private equity funds managed by Blackstone (Blackstone) will acquire a majority stake in Emersons (NYSE: EMR) Climate Technologies business, Ross B. Shuster will become Chief Executive Officer of the new standalone business. Blackstone Bets on Campus Housing With $13 Billion Acquisition 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. At the end of 2002, Blackstone, together with Thomas H. Lee Partners and Bain Capital, acquired Houghton Mifflin Company for $1.28 billion. This is a special opportunity to shape the next chapter of an industry-leading business alongside the Blackstone, Emerson, and Climate Technologies teams, said Ross B. Shuster. The program encourages increased collaboration among local business leaders with the goal of retaining high-growth companies in the state. Blackstone spent at least $6.2 million to defeat California's Proposition 10, which would have allowed cities to enact rent control. Blackstone, Pure to acquire 1.5M-sq.-ft. Toronto industrial portfolio BSP provides services to its Blackstone affiliates, not to investors in its funds, strategies or other products. 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. With 1,201 units, Elara is one of the world's . In October 2018, Blackstone announced to buy Clarus. In March 2007, RGIS announced that Blackstone Group purchased a controlling interest in the company, the terms of the transaction were not disclosed. The Climate Technologies business is ideally positioned to help address global climate challenges, including contributing to energy efficiency and accelerating the global trend of electrification. List of Blackstone Group's 148 Acquisitions, including Cvent And R ET. Switchboard: +1 (212) 583-5000. Rajeev Aggarwal, founder and chief executive, said in November while the company is likely to take a hit from a potential recession, it also expected to win market share. Blackstone provides $1.2-billion in financing to Westland Insurance "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". In total, The Blackstone Group has invested in 27 US states and 27 different countries. [29] Silverman would ultimately leave Blackstone to serve as CEO of HFS, which would later become Cendant Corporation. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. March 14 (Reuters) - Buyout firm Blackstone Inc (BX.N) agreed to purchase U.S. cloud-based event-software provider Cvent Holding Corp (CVT.O) in a deal valued at $4.6 billion, at a time when private equity firms are looking to scoop up tech companies for a bargain price. Cvent Holding Corp. (Cvent) (Nasdaq: CVT), an industry-leading meetings, events and hospitality technology provider, 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 value of approximately $4.6 billion. Blackstone Group 's most notable exits include BC Partners , NCR , and Paysafe. Individual Investors & Financial Advisors. Blackstone's investment in Allied was one of its largest at that point in the firm's history. Blackstone is a member of the Real Estate Roundtable, a special interest group which spends millions on lobbying and political donations every year. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. [47] In late 2002, Blackstone remained active acquiring TRW Automotive in a $4.7 billion buyout, the largest private equity deal announced that year (the deal was completed in early 2003). ", "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. In 2015, the digital assets were sold to IBM for $2 billion. This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. [4]:225 The involvement of seven firms in the consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive. Thomson Reuters and Blackstone's consortium subsequently agreed to sell Refinitiv to LSEG in August 2019. FGIC incurred heavy losses, along with other bond insurers in the 2008 credit crisis. Blackstone Inc. 's $70 billion real estate trust for wealthy individuals limited redemptions for a sixth straight month. Exclusive news, data and analytics for financial market professionals, Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli, First Republic collapse sparks regional bank shares sell-off, U.S. Treasury: 'Decisive actions' taken in response to bank failures, European e-scooter operator TIER Mobility explores merger - Sky News, JPMorgan wins government auction to buy seized First Republic Bank, Factbox: U.S. debt ceiling: A 'clean' increase is not the rule, Column: Coinbase, crypto industry hope new Supreme Court doctrine is silver bullet, US may run short of cash after June 1 without debt limit hike - Treasury, MGM Resorts beats Wall Street estimates for first-quarter revenue, QUOTE BOX How asset managers see the investment outlook at Milken. BSP does not make any recommendation regarding, and will not monitor, any investment. He also spent more than a decade with Johnson Controls, holding various roles across San Francisco, Los Angeles, Singapore, and Shanghai. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. 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. Blackstone expands further into rental housing in the United States. Blackstone (BX) To Buy ESG Software Firm Sphera for $1.4B 345 Park Avenue, Blackstone Group elevates India PE head Amit Dixit to head of Asia PE To receive email alerts from Blackstone, sign up below. The Firm - Blackstone We serve institutional and individual investors by building strong businesses that deliver lasting value. [30], Blackstone made a number of notable investments in the early and mid-1990s, including Great Lakes Dredge and Dock Company (1991), Six Flags (1991), US Radio (1994), Centerplate (1995), MEGA Brands (1996). A live webcast of the presentation will be available on the Shareholders section of Blackstones []. QTS Realty Trust to Be Acquired by Blackstone Funds in $10 Billion Blackstone will pay US$6.6 billion for 90% of shares outstanding. The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point. United Nations condemnation of the Invitation Homes project and lobbying efforts, Sorkin, Andrew Ross and Flynn, Laurie J. Haynes and Republic Technologies International, both had problems and ultimately filed bankruptcy. For information on our privacy practices see our Privacy Policy. [40], Blackstone's investments in the late 1990s included AMF Group (1996), Haynes International (1997), American Axle (1997), Premcor (1997), CommNet Cellular (1998), Graham Packaging (1998), Centennial Communications (1999), Bresnan Communications (1999), PAETEC Holding Corp. (1999). Blackstone's offer price of $8.50 per share, gives Cvent an equity value of $4.15 billion and represents a premium of about 29% from Jan. 30, a day before media reports of a potential deal surfaced. American Campus Communities, Inc. is the largest owner, manager and developer of high-quality student housing communities in the United States. [172] GSO was founded in 2005 by Bennett Goodman, Tripp Smith, and Doug Ostrover. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Switchboard:+1 (212) 583-5000. [46], In 2002, Hamilton E. James joined global alternative asset manager Blackstone, where he currently serves as president and chief operating officer. 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. Now with the focus of a standalone company, and with the support of Blackstone, we are poised to build this already strong business into an unmatched global leader in the areas of energy efficiency and sustainability., We are thrilled to welcome Ross and are confident he is the right person to lead this world-class business as we prepare to further advance its position as the partner of choice in the climate technologies space, said Seth Meisel, Senior Managing Director at Blackstone. 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 . The Blackstone Group is a global alternative investment management firm. [4]:4556[5] The founders named their firm "Blackstone," using a cryptogram derived from the names of the two founders (Schwarzman and Peterson). [9] Prominent investment banker Roger C. Altman, another Lehman veteran, left his position as a managing director of Lehman Brothers to join Peterson and Schwarzman at Blackstone in 1987, but left in 1992 to join the Clinton Administration as Deputy Treasury Secretary and later founded top advisory investment bank Evercore Partners in 1995. OVERLAND PARK, Kan. and NEW YORK - June 7, 2021 - QTS Realty Trust (NYSE: QTS) ("QTS" or "the Company") and Blackstone (NYSE: BX), today announced that they have entered into a definitive agreement under which Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc. and other long-term perpetual capital vehicles managed by 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. Carolyn Bridges v. Blackstone, Inc., No. 22-2486 (7th Cir. 2023) Blackstone Group on November 15, 2019, invested $167 million in the holding company of Future Lifestyle Fashions Ltd., Ryka Commercial Ventures Pvt. Blackstone 's real estate investment trust (REIT) limited its redemptions for the sixth month in a row in April, after investors tried to pull $4.5 billion out of the property giant.. Blackstone Real Estate Income Trust (BREIT) let its shareholders pull out $1.3 billion, or roughly 29 percent of what they requested to withdraw, as a rush of investors looked to take money out of the $70 . Talent Acquisition and Executive Search Blackstone+Cullen HE'S THE KING OF FRANCHISING, FOR ONE THING. [22] That same year, Blackstone formed a partnership with J. O. Hambro Magan in the UK and Indosuez in France. The deal between Blackstone and Advent International-backed ASK Group was signed on Tuesday, according to these people. Both companies are in the mobile advertising space. All quotes delayed a minimum of 15 minutes. [39], In 1999, Blackstone launched its mezzanine capital business. [14], As of 2019[update], Blackstone was the world's largest private equity firm by capital commitments as ranked by Private Equity International's PEI 300 ranking,[158] however in the 2022 ranking it dropped to second behind KKR. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. [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. Switchboard:+1 (212) 583-5000. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. Blackstone acquires controlling stake in Simplilearn for $250 million Tysons, Virginia-based Cvent's shares, which fell about 34% last year, rose about 12% to $8.29 on Tuesday. Between 1995 and 2014, PNC reported $12 billion in pretax revenues and capital gains from BlackRock, Schwarzman later described the selling of BlackRock as his worst business decision ever. 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]. [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. [162], Blackstone's most notable real estate investments have included EQ Office, Hilton Worldwide, Trizec Properties, Center Parcs UK, La Quinta Inns & Suites, Motel 6, Wyndham Worldwide, Southern Cross Healthcare and Vicinity Centres. 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. Blackstone was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson and Stephen A. Schwarzman, who had previously worked together at Lehman Brothers. PEOPLES BANCORP COMPLETES ACQUISITION OF LIMESTONE BANCORP - Yahoo Finance Blackstone, Kohlberg Kravis Roberts, TPG Capital and Goldman Sachs Capital Partners acquired Biomet, a medical device manufacturer for $10.9 billion. [28] In 1993, Hospitality Franchise Systems acquired Super 8 Motels for $125 million. PIRET will be acquired by Blackstone Property Partners in a $3.8 billion transaction. 13. 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. (212) 583-5000 [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. For office-specific contact information, please visit our our offices page. Blackstone will host its first quarter 2023 investor conference call via public webcast on April 20, 2023 at 9:00 a.m. [16] The growth firm also recruited politician and investment banker David Stockman from Salomon Brothers in 1988. Following the acquisition, Blackstone merged GSO's operations with its existing debt investment operations. The district court then granted Blackstone's motion to dismiss for failure to state a claim. By submitting this request, you consent to receive email from Blackstone. Follow @blackstone on LinkedIn, Twitter, and Instagram. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. The private equity firm said it would acquire Preferred Apartment Communities, a real estate investment trust, for $6 billion. By selecting the relevant option, you certify that it accurately reflects your residency. 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 stock of American Campus Communities, Inc. (ACC), the largest developer, owner and manager of high-quality student housing communities in the United States, for approximately $12.8 billion, including the assumption of debt.
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