Welcome to our dedicated page for Blackstone news (Ticker: BX), a resource for investors and traders seeking the latest updates and insights on Blackstone stock.
Blackstone Inc. (BX) is the world’s largest alternative asset manager, distinguished by its extensive portfolio and strategic investments. With $1.040 trillion in total assets under management (AUM) as of the end of 2023, Blackstone holds a dominant position in the investment landscape. The company’s assets include $762.6 billion in fee-earning AUM.
Blackstone’s operations are segmented into four core business areas:
- Private Equity: Representing 22% of the fee-earning AUM and accounting for 28% of base management fees, Blackstone makes pivotal investments to drive growth and value in portfolio companies.
- Real Estate: The largest segment at 39% of fee-earning AUM and 43% of base management fees, Blackstone invests in high-quality, profitable real estate opportunities.
- Credit and Insurance: This segment comprises 29% of fee-earning AUM and 21% of base management fees, focusing on various credit instruments and insurance solutions.
- Hedge Fund Solutions: Representing 10% of fee-earning AUM and 8% of base management fees, it involves investments in hedge fund strategies to diversify and enhance returns.
Blackstone's client base predominantly consists of institutional investors (87% of AUM) with a significant fraction also coming from high-net-worth individuals (13%). Operating through 25 offices globally, Blackstone maintains a strong presence across the Americas, Europe, the Middle East, and the Asia-Pacific region.
Committed to creating positive economic impact and long-term value, Blackstone leverages its extraordinary people and flexible capital to solve complex problems for companies. This commitment extends to the communities where it operates, striving for sustainable growth and development.
Recent achievements include strategic partnerships and acquisitions, such as the collaboration with MRP Group and continued investments in diverse sectors. These endeavors help Blackstone stay at the forefront of global asset management, continually enhancing its competitive edge.
For more detailed information, visit Blackstone's official website and follow them on Twitter at @blackstone.
Altus Power, Inc. (NYSE: AMPS) has partnered with Blackstone (NYSE: BX) and CBRE (NYSE: CBRE) to enhance its Community Solar Partnership Program, allowing employees of these companies to benefit from clean electricity at a discount. The program, already operational in New York City and Westchester County, NY, provides credits on electricity bills from Altus Power’s solar generation. Future expansions are planned in Hawaii, Maryland, and New Jersey, with potential growth in Minnesota, Massachusetts, and Illinois. Altus Power aims to attract more employers to this program as a valuable employee benefit.
Blackstone (NYSE:BX) announced that Chairman and CEO Stephen Schwarzman will present at the Bank of America Securities 2023 Financial Services Conference on February 16, 2023, at 12:30 PM ET. Investors can watch the live webcast on Blackstone’s website. A replay will also be available afterward. Blackstone is the largest alternative asset manager globally, boasting $975 billion in assets under management across various investment vehicles, including private equity and real estate. The company aims to create significant economic impact and long-term value for its investors and communities.
On January 3, 2023, UC Investments and Blackstone announced an expansion of their strategic venture, with UC Investments set to acquire an additional $500 million in BREIT Class I common shares. This follows their previous $4 billion investment, raising the total to $4.5 billion. The new investment is expected to close on March 1, 2023, maintaining the same terms as the initial investment, including a six-year minimum hold period. Additionally, Blackstone will contribute $125 million from its holdings into the venture.
Resolution Life has announced that Nippon Life Insurance Company will invest an additional $1 billion, raising its total investment in Resolution Life to $1.65 billion. This move follows a strategic partnership with Blackstone, which has become the investment manager for Resolution Life. The company aims to raise $3 billion in new equity capital, expanding its capital base to approximately $8 billion. This enhanced capital is expected to support Resolution Life's growth in the global life and annuity consolidation market, managing over $80 billion in reserves and 3 million policies. The investment is subject to regulatory approvals, expected in the second half of 2023.
Blackstone (NYSE:BX) has successfully closed its Strategic Partners IX and Strategic Partners GP Solutions, achieving commitments of
Blackstone (NYSE: BX) has appointed Brad Marshall as the Global Head of Private Credit Strategies, enhancing his role as Chairman and co-CEO of its BDCs, Blackstone Private Credit Fund (BCRED) and Blackstone Secured Lending Fund (BXSL). Jonathan Bock joins as Co-CEO, previously CEO of Barings BDC. Blackstone Credit's assets under management have surged 135% to
Byron R. Wien and Joe Zidle from Blackstone have released the Ten Surprises of 2023, highlighting potential economic and market shifts. Key surprises include a competitive presidential nomination race, a hawkish Fed potentially leading to a mild recession, and a recovery in the market by mid-year. Other notable points are China's growth efforts, the U.S. becoming a leading oil producer, and continued challenges in Ukraine. Blackstone, managing $951 billion in assets, aims to create positive economic impact and long-term value for investors and communities.
Blackstone (NYSE: BX) and UC Investments have announced a significant long-term strategic partnership, with UC Investments committing $4 billion to acquire Class I common shares of Blackstone Real Estate Income Trust (BREIT). Blackstone will contribute $1 billion of its existing BREIT holdings in this venture. This investment is expected to enhance BREIT’s balance sheet flexibility and capital, providing an 11.25% minimum annualized net return for UC Investments over a six-year hold period. BREIT has delivered a 12.7% annualized return since inception.
Blackstone Private Credit Fund (BCRED) has announced an increase in its monthly distribution from
VICI Properties has signed an agreement to acquire BREIT's 49.9% interest in the joint venture owning MGM Grand Las Vegas and Mandalay Bay for approximately $1.27 billion. This acquisition also involves VICI assuming BREIT’s share of property-level debt of $3 billion, maturing in 2032. The properties are subject to a triple-net lease with MGM Resorts, yielding annual rents of $310 million. The deal is expected to be accretive to VICI's AFFO per share and is anticipated to close in early 2023.
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