For office-specific contact information, please visit our our offices page. Blackstone to Acquire International Data Group, a Leading Market Intelligence and Data Platform for the Technology Industry. Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. [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. Blackstones real estate business was founded in 1991 and has US $320 billion of investor capital under management. By submitting this request, you consent to receive email from Blackstone. 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. [174][175], The company has invested in companies with links to the commercialization and deforestation of the Amazon rainforest.[176][177][178][179]. Blackstone Inc. is an American alternative investment management company based in New York City. 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. During the financial crisis of 20072008, Blackstone managed to close only a few transactions. 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 will host its first quarter 2023 investor conference call via public webcast on April 20, 2023 at 9:00 a.m. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor. [4]:145146, Blackstone's investments in telecommunications businessesfour cable TV systems in rural areas (TW Fanch 1 and 2, Bresnan Communications and Intermedia Partners IV) and a cell phone operator in the [75] It also planned to raise a fund on the Amsterdam stock exchange in 2006, but its rival, Kohlberg Kravis Roberts & Co., launched a $5 billion fund there that soaked up all demand for such funds, and Blackstone abandoned its project. Companies Contacts Investors Funding Rounds Acquisitions People Events . Visit www.americancampus.com. He has a unique combination of public company HVACR experience from his years at United Technologies / Carrier and Johnson Controls, as well as private company CEO experience at Howden, a leading global provider of mission critical air and gas handling products and services. ET Senior Vice President Capital Markets & Investor Relations. Hilton Grand Vacations and Blackstone Form Joint Venture to | Hilton In October 2018, Blackstone announced to buy Clarus. 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 Both companies are in the mobile advertising space. Blackstone Expands Further Into Rental Housing in the U.S - New Blackstone is the world's largest alternative asset manager, with $991B in AUM. [171], In 1990, Blackstone created a fund of hedge funds business to manage internal assets for Blackstone and its senior managers. [46], In 2002, Hamilton E. James joined global alternative asset manager Blackstone, where he currently serves as president and chief operating officer. Press Releases Archives - Blackstone Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. [56] La Quinta Inns & Suites was spun out for IPO in 2014 and was later acquired by Wyndham Hotels & Resorts[57]. For press inquiries, contact [emailprotected]. Home - Blackstone In August 2020, Blackstone acquired Takeda Consumer Healthcare for $2.3 billion. Blackstone's investment in Allied was one of its largest at that point in the firm's history. ", Teachers Insurance and Annuity Association, List of outdoor industry parent companies, https://companiesmarketcap.com/kohlberg-kravis-roberts/revenue/, "Blackstone Group Inc 2021 Annual Report (Form 10-K)", "Blackstone Reports Third Quarter 2022 Results", Private equity power list: #1 The Blackstone Group, "English Translation of "schwarz" | Collins German-English Dictionary", "petro-, petr-, petri-, peter- - Word Information", "Strong's Greek: 4074. 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. 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. Blackstone is a global leader in real estate investing. Blackstone Snaps Up Atlanta Multifamily Property for $133M M&A research that takes seconds (not all afternoon), Better understand your customers and prospects. 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 Climate Technologies business is ideally positioned to help address global climate challenges, including contributing to energy efficiency and accelerating the global trend of electrification. "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 Blackstone Group Mergers and Acquisitions Summary | Mergr United Nations condemnation of the Invitation Homes project and lobbying efforts, Sorkin, Andrew Ross and Flynn, Laurie J. KeyBanc Capital Markets Inc. also acted as a financial advisor. Other notable investments that Blackstone completed in 2008 and 2009 included AlliedBarton, Performance Food Group,[79][80] Apria Healthcare and CMS Computers. American Campus Communities . Blackstone announced that it will open a new office in Frankfurt, Germany. 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. Blackstone Inc. - Wikipedia - 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. 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. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. In 2015, the digital assets were sold to IBM for $2 billion. For press inquiries, contact[emailprotected]. Blackstone Group - Investments, Portfolio & Company Exits - CrunchBase List of Blackstone Group 's 148 Acquisitions, including Cvent and R Systems. Further information is available at www.blackstone.com. Investors asked to redeem $4.5 billion in April from Blackstone Real Estate Income Trust, the same amount shareholders sought to pull in March, according to a letter Monday. This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. [13], Blackstone also ventured into other businesses, most notably investment management. [74] However, Blackstone failed to raise capital through an initial public offering that summer and the project were shelved. In 1987 Blackstone entered into a 5050 partnership with the founders of BlackRock, Larry Fink (current CEO of BlackRock), and Ralph Schlosstein (CEO of Evercore). 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. Save Search . NOW HE'S GOING TO TRY SOMETHING REALLY BIG. By selecting the relevant option, you certify that it accurately reflects your residency. [160] From 1987 to its IPO in 2007, Blackstone invested approximately $20 billion in 109 private equity transactions.[14]. Blackstone acquired Prime Hospitality[54] and Extended Stay America in 2004. [53], While Blackstone was active on the corporate investment side, it was also busy pursuing real estate investments. Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B. Blackstone acquired the premium hotel operator for approximately $26 billion, representing a 25% premium to Hilton's all-time high stock price. The companys products play a key role in improving the energy efficiency of heating and cooling solutions as well as in the rapidly growing market for electric heat pumps and climate-friendly refrigerants, which are being increasingly adopted globally to reduce environmental impact and carbon emissions. Blackstone Group's Blackstone Real Estate Income Trust (BREIT) has reached an agreement for the acquisition of Home Partners of America (HPA). 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 . The deal includes assets worth $2.6 billion. 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. Blackstone (BX) To Buy ESG Software Firm Sphera for $1.4B Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. 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. The report also condemned Blackstone for "using its significant resources and political leverage to undermine domestic laws and policies that would in fact improve access to adequate housing." Blackstone disputed these claims.[182]. The district court then granted Blackstone's motion to dismiss for failure to state a claim. 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. The Blackstone Groups most common sectors for investment arecommunications (9%) and information technology (7%) . In addition to historical information, this press release contains forward-looking statements under the applicable federal securities law. [11][12], From the outset in 1985, Schwarzman and Peterson planned to enter the private equity business but had difficulty in raising their first fund because neither had ever led a leveraged buyout. In May 2014, Blackstone Group acquired the, In August 2014, Blackstone Energy Partners acquired, In January 2015, Blackstone Real Estate Partners VI announced it would sell a. Blackstone Has Made Its Second Big Tech Acquisition In India Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B. Blackstone Portfolio Exits - CB Insights [25], In 1991, Blackstone created its Europe unit[26][27] and launched its real estate investment business with the acquisition of a series of hotel businesses under the leadership of Henry Silverman. 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. [23][24] Additionally, Blackstone and Silverman acquired a 65% interest in Prime Motor Inn's Ramada and Howard Johnson franchises for $140 million, creating Hospitality Franchise Systems as a holding company. Blackstone Real Estate. 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. As CEO of Howden, Mr. Shuster led the company through its carve-out from Colfax and sale to Chart Industries, driving significant growth, repositioning the business, and entering new markets. [36] Also in 1997, Blackstone made its first investment in Allied Waste. Brown: independent director, This page was last edited on 29 April 2023, at 20:50. Blackstone (NYSE: BX) announced the final close of its latest global real estate fund, Blackstone Real Estate Partners X (BREP X). To view recent press releases, click here. This business evolved into Blackstone's marketable alternative asset management segment, which was opened to institutional investors. It focuses on private equity, real estate, hedge fund solutions (BAAM), credit businesses, closed-end mutual funds, and advisory and . ContactsMatthew Anderson(518) 248-7310[emailprotected], Mariel Seidman-Gati(646) 482-3712[emailprotected]. Acquisition expected to be accretive in 2017 to Total Adjusted EBITDA and EPS . [4]:4556 Blackstone finalized fundraising for its first private equity fund in the aftermath of the October 1987 stock market crash. See 28 U.S.C. A rout in tech stocks last year shrank company valuations, making them enticing targets for private equity suitors. For office-specific contact information, please visitour offices page. [43], In July 2002, Blackstone completed fundraising for a $6.45 billion private equity fund, Blackstone Capital Partners IV, the largest private equity fund at that time. 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. The combined entity created one of the largest credit platforms in the alternative asset management business, with over $21 billion under management. The firm focuses on friendly investments in large capitalization companies. 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. Blackstone spent at least $6.2 million to defeat California's Proposition 10, which would have allowed cities to enact rent control. Financial Advisors, visit our dedicated website to learn how you can partner with Blackstone. The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point. To receive email alerts from Blackstone, sign up below. Blackstone Funds Complete Acquisition of QTS Realty Trust Real Estate - Blackstone The largest investors in the first fund included Prudential Insurance Company, Nikko Securities and the General Motors pension fund. [21], In 1990, Blackstone launched its hedge funds business, initially intended to manage investments for Blackstone senior management. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. [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. Blackstone followed these investments with the acquisition of La Quinta Inns & Suites in 2005. He also serves on the firm's executive and management committees, and its board of directors. 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. In total, The Blackstone Group has invested in 27 US states and 27 different countries. [166], In 2014, Blackstone sold Northern California office buildings for $3.5 billion. The transaction values the Chicago-based firm at $6 . Switchboard: +1 (212) 583-5000. [10], Blackstone was originally formed as a mergers and acquisitions advisory boutique. Blackstone Group elevates India PE head Amit Dixit to head of Asia PE Ross brings the necessary skills and experience scaling global, sustainability-focused businesses to capitalize on this environment. The company restructured its debt in 2010. NEW YORK - APRIL 24, 2023 - Blackstone (NYSE: BX) today announced that, upon close of the previously announced transaction through which private equity funds managed by Blackstone ("Blackstone") will acquire a majority stake in Emerson's (NYSE: EMR) Climate Technologies business, Ross B. Shuster will become Chief Executive Officer of the new standalone business. PEOPLES BANCORP COMPLETES ACQUISITION OF LIMESTONE BANCORP - Yahoo Finance [163], The purchase and subsequent IPO of Southern Cross led to controversy in the UK. FGIC incurred heavy losses, along with other bond insurers in the 2008 credit crisis. In the last 3 years, The Blackstone Group has acquired 36 companies. [6][7][8] The two founders had previously worked together at Lehman Brothers. List of Blackstone Group's 148 Acquisitions, including Cvent And R Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Blackstone's real estate business was founded in 1991 and has US $320 billion of investor capital under management. HE'S THE KING OF FRANCHISING, FOR ONE THING. Portions of this site are directed only to persons in certain jurisdictions. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
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