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.
Blackstone Private Credit Fund (BCRED) has announced a special distribution of $0.07 per share, an increase from the previously declared $0.05 per share, due to strong earnings and the benefits of rising interest rates. This distribution is scheduled for payment on or about September 1, 2022, with a record date of August 21, 2022. BCRED, as part of Blackstone's $74 billion direct lending platform, focuses on providing income to investors through private credit.
Hudson Pacific Properties and Blackstone have received planning approval for the Sunset Waltham Cross Studios in Hertfordshire, set to open in 2025. This state-of-the-art facility will feature 21 sound stages and is expected to create over 4,800 jobs while contributing £300 million annually to the local economy. The project focuses on sustainability, aiming for LEED Gold certification and a BREEAM Excellent rating. Construction is projected to begin in 2023, marking a significant expansion for Hudson Pacific and Blackstone's studio operations in the UK.
Blackstone has committed $400 million to lead a strategic investment in Xpansiv Limited, a key player in the carbon and environmental commodities market. This investment aims to enhance Xpansiv's capabilities, allowing them to better connect buyers and sellers while supporting climate change mitigation goals. Blackstone's Senior Managing Director, Bilal Khan, emphasized the potential of environmental commodities as a new asset class. Xpansiv's CEO, Joe Madden, expressed excitement over the partnership, which will drive growth and innovation in ESG-inclusive markets.
Phoenix Tower International (PTI) has signed a definitive agreement to acquire up to 3,800 telecommunications sites in Chile from WOM S.A. for approximately $930M. The deal entails the acquisition of 2,334 tower sites initially and 1,466 more by 2024. This acquisition positions PTI as the largest communications tower owner in Chile, expanding its global network to over 22,000 towers in 19 countries. The transaction is expected to close in Q3 2022 and will be funded by various financial providers, including affiliates of Blackstone.
Blackstone (NYSE: BX) announced a $1.2 million donation to RiseBoro Community Partnership over 15 years to support resident services in Brooklyn, NY. This agreement restructures their partnership, allowing RiseBoro to acquire a majority interest in three multifamily properties, preserving 190 affordable units. The move resolves previous litigation and reflects a shared commitment to community revitalization. Blackstone aims to enhance affordable housing and improve local communities through this collaboration.
Blackstone Private Credit Fund (BCRED) announced a special distribution of $0.05 per share due to strong earnings and rising interest rates. The distribution will include any estimated undistributed net investment income above $0.05 per share, with a record date of August 21, 2022, and payment expected around September 1, 2022. BCRED aims to provide individual investors access to private credit, backed by Blackstone's $74 billion direct lending platform. The fund is externally managed by Blackstone, a major player in credit investing with $230 billion in assets under management.
Blackstone (NYSE: BX) has finalized the acquisition of Crown Resorts Limited in its largest transaction in Asia Pacific. This deal includes three premium resort and casino properties located in Melbourne, Perth, and Sydney. Blackstone aims to enhance these properties into top-tier entertainment destinations, working closely with Crown's management and employees. The investment is expected to support local economies and create jobs while allowing Crown to realize its potential in the hospitality sector.
Blackstone (NYSE: BX) has successfully completed its acquisition of Preferred Apartment Communities, Inc. (NYSE: APTS) for $25.00 per share, totaling around $5.8 billion. This all-cash transaction includes a liquidation preference of $1,000 per preferred share, plus accrued dividends. Following the acquisition, PAC's common stock will be delisted. The deal was supported by over 99% of PAC's voting stockholders. Blackstone aims to integrate PAC's high-quality multifamily properties into its existing portfolio, enhancing its presence in the residential market.
Advarra, a leader in clinical research solutions, has secured a majority investment from Blackstone and Canada Pension Plan Investment Board. The partnership aims to enhance Advarra's capabilities in providing safe and efficient clinical trial management. Current investors Genstar Capital and Linden Capital Partners will maintain significant equity shares. The investment is set to support innovations in service and technology to facilitate faster and safer clinical trials, thereby advancing life sciences research.
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