Blackstone was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman with $400,000 in seed capital. Wells Fargo Securities LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Goldman Sachs, Morgan Stanley & Co. LLC, SMBC, a member of SMBC Group, and TSB Capital Advisors served as Blackstones financial advisors, and Simpson Thacher & Bartlett LLP acted as Blackstones legal counsel. Blackstone to acquire majority stake in R Systems for Rs 2,904 crore 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. [81], In December 2009, Blackstone acquired Busch Entertainment Corporation from Anheuser-Busch InBev for $2.9 billion. Nikko's investment allowed for a major expansion of the firm and its investment activities. 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. Blackstone Group - Investments, Portfolio & Company Exits - CrunchBase 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. 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. KeyBanc Capital Markets Inc. also acted as a financial advisor. Blackstone Group elevates India PE head Amit Dixit to head of Asia PE 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. Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction Switchboard:+1 (212) 583-5000. We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them. Blackstone had been an original investor in GSO's funds. BofA Securities served as ACCs lead 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 Hilton deal, announced on July 3, 2007, is often referred to as the deal that marked the "high water mark" and the beginning of the end of the multi-year boom in leveraged buyouts. 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. [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. 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. The transaction represented one of the first large club deals completed since the collapse of the Dot-com bubble. Blackstone buys 74% in ASK Group for $1 billion - The Economic Times 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. Blackstone Funds Complete Acquisition of QTS Realty Trust 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. The program encourages increased collaboration among local business leaders with the goal of retaining high-growth companies in the state. In March 2018, Blackstone Real Estate Income Trust, Inc. acquired a 22 million square foot portfolio of industrial properties from Cabot Properties for $1.8 billion. [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. For office-specific contact information, please visit our our offices page. Our goal is to provide a comprehensive talent acquisition . Carolyn Bridges v. Blackstone, Inc., No. 22-2486 (7th Cir. 2023) Blackstone Group . [49], Blackstone made a significant investment in Financial Guaranty Insurance Company (FGIC), a monoline bond insurer alongside PMI Group, The Cypress Group and CIVC Partners. TRW's parent was acquired by Northrop Grumman, while Blackstone purchased its automotive parts business, a major supplier of automotive systems. [85], Blackstone operates through four primary departments: private equity; real estate; hedge funds; and credit. 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. - 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. The company seeks to change the narrative for women by providing original content that places women at the forefront. The transaction values the Chicago-based firm at $6 . [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). 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. 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 acquires controlling stake in Simplilearn for $250 million 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. Our $991 billion in assets under management include investment vehicles focused on private equity, real estate, public equity, infrastructure, life sciences, growth equity, liquid and private credit, real assets and secondary funds, all on a global basis. A rout in tech stocks last year shrank company valuations, making them enticing targets for private equity suitors. This business evolved into Blackstone's marketable alternative asset management segment, which was opened to institutional investors. Blackstone will pay US$6.6 billion for 90% of shares outstanding. I am excited by the opportunity to work alongside the talented team that makes up this business in order to build upon a decades-long track record of success and innovation. [4]:144147 He left Blackstone in 1999 to start his own private equity firm, Heartland Industrial Partners, based in Greenwich, Connecticut. [28] In 1993, Hospitality Franchise Systems acquired Super 8 Motels for $125 million. 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 the last 3 years, The Blackstone Group has exited 31 companies. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. In December 2020, Blackstone invested nearly $400 million in Liftoff, a mobile advertising company. Switchboard: +1 (212) 583-5000. 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. Blackstone's investment in Allied was one of its largest at that point in the firm's history. The real estate group will consider both equity and debt investments. We do this by using extraordinary people and flexible capital to help companies solve problems. Blackstone Portfolio Exits - CB Insights Part of the purchase involved splitting the business into a property company, NHP, and a nursing home business, which Blackstone claimed would become "the leading company in the elderly care market". Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. 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 Emerson's (NYSE: EMR) Climate Technologies business, Ross B. Shuster will become Chief Executive Officer of the new standalone business. [160] From 1987 to its IPO in 2007, Blackstone invested approximately $20 billion in 109 private equity transactions.[14]. [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. [164][165], After the 20072010 subprime mortgage crisis in the United States, Blackstone Group LP bought more than $5.5 billion worth of single-family homes to rent, and then be sold when the prices rise. Ross B. Shuster to Join as CEO of Standalone Climate Technologies [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. 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. Blackstone Inc. - Wikipedia Blackstone acquired Prime Hospitality[54] and Extended Stay America in 2004. Following the acquisition, Blackstone merged GSO's operations with its existing debt investment operations. 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 Group has acquired 148 organizations. HE'S THE KING OF FRANCHISING, FOR ONE THING. ET In April 2014, Blackstone's charitable arm, the Blackstone Charitable Foundation, donated $4 million to create the Blackstone Entrepreneurs Network in Colorado. [171], In 1990, Blackstone created a fund of hedge funds business to manage internal assets for Blackstone and its senior managers. 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. The promoters will get around Rs 1,496.95 crore Shivani Shinde Business Standard Mumbai Premium Blackstone Inc. 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. Blackstone's offer . NOW HE'S GOING TO TRY SOMETHING REALLY BIG. Events software provider Cvent accepts Blackstone's $4.6 bln deal Hipgnosis and Blackstone acquire 80% of Kenny Chesney's recorded music Tysons, Virginia-based Cvent's shares, which fell about 34% last year, rose about 12% to $8.29 on Tuesday. List of Blackstone Group 's 148 Acquisitions, including Cvent and R Systems. 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. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. By selecting the relevant option, you certify that it accurately reflects your residency. Blackstone's BREIT Limits Withdrawals for Sixth Straight Month Individual Investors & Financial Advisors, The transaction was announced on April 19, 2022. 345 Park Avenue, [159] The firm invests through minority investments, corporate partnerships, and industry consolidations, and occasionally, start-up investments. [6][7][8] The two founders had previously worked together at Lehman Brothers. [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. Biggest data center acquisitions: 10 billion-dollar data center deals ", 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. Switchboard: +1 (212) 583-5000. A live webcast of the presentation will be available on the Shareholders section of Blackstones []. Blackstone's real estate business was founded in 1991 and has US $320 billion of investor capital under management. In November 2015, the company agreed to sell facility management firm GCA Services Group to. [4]:4556 Blackstone finalized fundraising for its first private equity fund in the aftermath of the October 1987 stock market crash. Join Mergr to view The Blackstone Groups full profile and discover more Their most recent diversity investment was on Nov 9, 2021, when Renaissance Learning raised Blackstone Group has had 62 exits. Rocky Mountain states (CommNet Cellular) were among the most successful of the era, generating $1.5 billion of profits for Blackstone's funds. (Petros) -- "a stone" or "a boulder," Peter, one of the twelve apostles", "Blackstone's Chief Has a Warning for Wall Street's Entrepreneurs", A Big Fund Ready to Capitalize on Hard Times, CNW Accepts Buyout Bid From Blackstone Group, 2 Wall Street Firms Join To Buy Savings Units, "Stephen Schwarzman And Blackstone: Wall Street's Unstoppable Force", "U.S. Mergers Firm Is Forming British Link", Prime to Sell Interest in Inns to Blackstone, U.S. Mergers Firm Is Forming British Link, "WHO THE HELL IS HENRY SILVERMAN? The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone Group's Blackstone Real Estate Income Trust (BREIT) has reached an agreement for the acquisition of Home Partners of America (HPA). Senior Vice President Capital Markets & Investor Relations. The transaction price of $8.10 per share of PIRET represents a 21 per cent premium to the closing price of its shares on the TSX Monday and a 27 per cent premium to the current research consensus net asset value estimate of $6.40 per unit. Blackstone's REIT Limits Withdrawals for the Sixth Month in a Row Switchboard:+1 (212) 583-5000. 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 []. To receive email alerts from Blackstone, sign up below. BSP provides services to its Blackstone affiliates, not to investors in its funds, strategies or other products. Blackstone Funds Complete $13 Billion Acquisition of American Campus Blackstone followed these investments with the acquisition of La Quinta Inns & Suites in 2005. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. 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. The Blackstone Groups largest (disclosed) exit occurred in 2019 when it sold Refinitiv for $27.0B. To view recent press releases, click here. Blackstone to Acquire International Data Group, a Leading - Foundry [169], On December 1, 2022, Blackstone Inc. restricted withdrawals from its $125 billion real estate investment fund BRIET due to a surge in redemption requests from investors. [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. Their most recent acquisition was Cvent on Mar 14, 2023. Thomson Reuters and Blackstone's consortium subsequently agreed to sell Refinitiv to LSEG in August 2019. For press inquiries, contact [emailprotected]. Other notable investments that Blackstone completed in 2008 and 2009 included AlliedBarton, Performance Food Group,[79][80] Apria Healthcare and CMS Computers. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. By submitting this request, you consent to receive email from Blackstone. The deal includes assets worth $2.6 billion. Individual Investors & Financial Advisors. Portions of this site are directed only to persons in certain jurisdictions. [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). Legence acquired by Blackstone Group . See 28 U.S.C. Brown: independent director, This page was last edited on 29 April 2023, at 20:50. Blackstone is the world's largest alternative asset manager, with $991B in AUM. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. For office-specific contact information, please visitour offices page. 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. This transaction created significant value for our shareholders and represents the culmination of our teams passionate and dedicated service to our student residents and university partners., Jacob Werner, Co-Head of Americas Acquisitions for Blackstone Real Estate, said, We are pleased to complete this transaction and welcome the American Campus Communities team to Blackstone. Shuster Brings More Than 25 Years of Leadership Experience, Growing and Transforming Global, Sustainability-Focused BusinessesBlackstone Investment to Help Power Next Phase of Growth for the Standalone Climate Technologies Business Products, Which Play Key Role in Energy Efficient Heating and Cooling Solutions. [55] Extended Stay Hotels was sold to The Lightstone Group in July 2007 and Prime Hospitality's Wellesley Inns were folded into La Quinta. The company restructured its debt in 2010. [22] That same year, Blackstone formed a partnership with J. O. Hambro Magan in the UK and Indosuez in France. Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B. 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. Acquisition expected to be accretive in 2017 to Total Adjusted EBITDA and EPS . To receive email alerts from Blackstone, sign up below. [31][32][33], In 1995, Blackstone sold its stake in BlackRock to PNC Financial Services for $250 million. The combined entity created one of the largest credit platforms in the alternative asset management business, with over $21 billion under management. On February 14, 2022 Crown Resorts accepted Blackstone's takeover offer.