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.
Equity Residential (NYSE: EQR) has agreed to acquire 11 apartment properties from Blackstone Real Estate strategies for approximately $964 million. The portfolio consists of 3,572 apartment units located in Atlanta, Dallas/Ft. Worth, and Denver. These properties, averaging eight years old, align with Equity Residential's expansion strategy in high-growth markets.
The transaction is expected to close in the third quarter of 2024, subject to customary conditions. Equity Residential aims to leverage its operating platform to unlock additional value from these properties. The company reaffirmed its earnings guidance provided in the Second Quarter 2024 Earnings Release.
This acquisition marks a significant step towards Equity Residential's goal of increasing its net operating income from these expansion markets. The deal also highlights the strong institutional demand for high-quality rental housing assets in attractive markets.
Blackstone (NYSE: BX) has agreed to make a majority investment in Westwood Professional Services, a leading engineering and design firm specializing in renewables, power, real estate, and public infrastructure. Blackstone will acquire its position from Endurance Partners, with Westwood's management team retaining a minority stake. Westwood, with over 1,600 employees, provides front-end engineering design services for renewable energy generation and infrastructure development across the United States.
This investment aligns with Blackstone's focus on energy transition, following recent investments in Trystar and Sediver. With this signing, Blackstone Energy Transition Partners will have committed approximately $1.3 billion in control-oriented equity investments in the energy transition sector since June. The partnership aims to leverage Blackstone's global resources to expand Westwood's capabilities and client partnerships.
Blackstone Real Estate and MRP Group have extended their all-cash tender offer for Terrafina (BMV:TERRA 13) until August 2, 2024. The offer of Ps.40.50 per certificate for up to 100% of outstanding certificates represents a 27% premium over the December 4, 2023 price and a 10% premium to the June 7, 2024 closing price. The offer requires acceptance by holders of at least 50% plus one of outstanding certificates.
Key points:
- Offer extended to August 2, 2024, at 14:00 Mexico City time
- Expected settlement date: August 9, 2024
- COFECE has unconditionally approved the tender offer
- No financing condition or additional approvals required
Blackstone Real Estate and MRP Group have extended their all-cash tender offer for Terrafina (BMV:TERRA 13) until July 31, 2024. The offer of Ps.40.50 per certificate represents a 27% premium over the unaffected price on December 4, 2023, and a 10% premium to the closing price on June 7, 2024. The offer requires acceptance by holders of at least 50% plus one of outstanding certificates. COFECE has unconditionally approved the tender offer, which is not subject to financing conditions or additional approvals. The settlement date is expected to be August 7, 2024, unless extended. Blackstone Real Estate, with a track record of over 50 successful public company transactions, aims to provide immediate value to Terrafina's shareholders while avoiding potential tax consequences associated with competing exchange offers.
Blackstone Real Estate and MRP Group have extended their all-cash tender offer for Terrafina (BMV:TERRA 13) until July 29, 2024. The offer of Ps.40.50 per certificate represents a 27% premium over the unaffected price on December 4, 2023, and a 10% premium to the closing price on June 7, 2024. The offer requires acceptance by holders of at least 50% plus one of outstanding certificates. COFECE has unconditionally approved the tender offer, which is not subject to financing conditions or additional approvals. The expected settlement date is August 5, 2024, unless extended.
Blackstone Real Estate and MRP Group have extended their all-cash tender offer for Terrafina (BMV:TERRA 13) until July 25, 2024. The offer of Ps.40.50 per certificate for up to 100% of outstanding certificates represents a 27% premium over the unaffected price on December 4, 2023, and a 10% premium to the closing price on June 7, 2024.
The offer requires acceptance by holders of at least 50% plus one of outstanding certificates. The Mexican antitrust authority (COFECE) has unconditionally approved the tender offer, which is not subject to financing conditions or additional approvals. The expected settlement date is August 1, 2024, unless extended.
Blackstone (NYSE: BX) has announced its intention to acquire Trystar, a leading provider of electrical equipment for backup power solutions. Trystar specializes in designing and manufacturing critical electrical power solutions for various sectors including data centers, industrial, commercial, healthcare, and utilities. The acquisition aligns with Blackstone's focus on energy transition investments and aims to leverage its global scale and expertise to enhance Trystar's market position.
The deal is expected to capitalize on growing demand for electricity and increased prioritization of on-site power resiliency. Blackstone sees Trystar's innovative solutions as well-positioned to benefit from these market trends. The partnership aims to build a leading platform serving the distributed power generation market and facilitate the energy transition.
Air Control Concepts (AIR), formerly Hobbs & Associates, has announced a new equity investment partnership with Blackstone. This collaboration includes existing investors Madison Dearborn Partners (MDP) and AIR's management team. AIR, headquartered in Norfolk, Virginia, supports leading commercial HVAC OEMs across the United States, operating under various brands.
Brad Hobbs, Founder, President and CEO of AIR, expressed enthusiasm about the partnership, emphasizing the benefits for vendors, customers, and employees. Blackstone's representatives highlighted their sector experience and commitment to AIR's growth. MDP executives reaffirmed their support for AIR's expansion plans.
The existing management team will continue to lead AIR, with management and employees retaining significant ownership. The investment terms were not disclosed. This partnership aims to accelerate AIR's growth while maintaining its foundational values and operational excellence.
Blackstone (NYSE: BX) has appointed Tyler Dickson as the Global Head of Client Relations for Blackstone Credit & Insurance (BXCI). Dickson, who has extensive experience from his tenure at Citi as the Global Head of Investment Banking and Vice Chair of Banking & International, will lead BXCI's Institutional Client Solutions team and partner on origination efforts globally. Dickson brings three decades of industry experience and will play a key role in serving clients across the credit spectrum. His appointment follows strong growth in BXCI, which has doubled to $330 billion in assets under management over the past three years.
Additionally, BXCI announced new leadership roles earlier this year with Dan Leiter as Head of International and Philip Sherrill as Global Head of Insurance, amplifying their focus on international business and insurance assets, which recently exceeded $200 billion in assets under management.
Blackstone Real Estate Partners X has finalized the privatization of Apartment Income REIT Corp. (AIRC) in a transaction valued at approximately $10 billion, including debt assumption. Shareholders of AIRC received $39.12 per share in cash. Financial advisors for Blackstone included BofA Securities, Barclays, BMO Capital Markets, Deutsche Bank Securities, Goldman Sachs, J.P. Morgan, Morgan Stanley, SG Americas Securities, and Wells Fargo, with Simpson Thacher & Bartlett LLP as legal counsel. Citigroup Global Markets advised AIRC, with Skadden, Arps, Slate, Meagher & Flom LLP serving as legal counsel. The transaction was first announced on April 8, 2024.
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