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 (NYSE: BX) announced leadership changes in its Tactical Opportunities division. Chris James, current COO and founding member, will become Global Head, succeeding David Blitzer who transitions to chairman at year-end. Jas Khaira and Qasim Abbas are elevated to Head of Americas and International, respectively. The Tactical Opportunities platform, launched in 2012, manages $37 billion in assets and is the largest structured capital solutions platform globally. The division recently closed its fourth fund (BTO IV), expected to have nearly $10 billion of new capital, marking its largest vintage ever.
Blackstone has successfully closed its first series of evergreen institutional U.S. direct lending fund (BXD) with $22 billion of investable capital, significantly exceeding the $10 billion target. This achievement expands Blackstone's global direct lending platform to over $123 billion in assets under management as of Q3. The company has already deployed or committed $40 billion in direct lending through Q3, more than double the 2023 total, including major deals with CoreWeave ($7.5B), Squarespace ($2.7B), and several middle-market transactions.
OYO, a global travel technology company, has agreed to acquire G6 Hospitality, the parent company of Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million in an all-cash transaction. This acquisition marks a significant milestone for OYO to strengthen its international presence, particularly in the United States. G6 Hospitality's franchise network generates $1.7 billion in gross room revenues, providing a strong fee base and cash flow.
OYO plans to leverage its technology suite, global distribution network, and marketing expertise to further strengthen the Motel 6 and Studio 6 brands. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. Under Blackstone's ownership, G6 Hospitality transformed into a leading asset-light lodging company with a franchise network of ~1500 hotels across the US and Canada.
DECA Dental Group, backed by Blackstone (NYSE: BX), has launched a nationwide joint venture (JV) program under its Ideal Dental brand. This innovative initiative allows dentists to set up, own, operate, and grow their practices while leveraging DECA's infrastructure and brand reputation. Founded by Dr. Sulman Ahmed, DECA aims to provide high-quality, affordable dental care while fostering office growth and innovation.
The JV program offers dentists ownership opportunities and access to Ideal Dental's expertise and support systems. DECA has grown to 200 locations across 9 states under Dr. Ahmed's leadership. The program has received positive reception, with multiple agreements finalized and a pipeline extending into 2026 and beyond.
Blackstone (NYSE:BX) has announced that its Chief Financial Officer, Michael Chae, will be presenting at the Barclays Global Financial Services Conference on Wednesday, September 11, 2024, at 11:15 am ET. This event provides an opportunity for investors and analysts to gain insights into Blackstone's financial strategies and performance.
The presentation will be accessible via a live webcast on the Shareholders section of Blackstone's website at http://ir.blackstone.com. For those unable to attend or watch the live event, a replay will be made available on the company's website shortly after the presentation concludes. This allows interested parties to stay informed about Blackstone's latest updates and financial outlook.
Blackstone and CPP Investments have agreed to acquire AirTrunk, the leading Asia Pacific data center platform, for an implied enterprise value of over A$24 billion. This marks Blackstone's largest investment in the Asia Pacific region. AirTrunk operates in Australia, Japan, Malaysia, Hong Kong, and Singapore, with over 800MW of capacity committed to customers and potential for 1GW of future growth.
The acquisition aligns with Blackstone's strategy to be the leading global digital infrastructure investor. Prior to this deal, Blackstone's portfolio included US$55 billion in data centers and a US$70 billion prospective pipeline. The transaction is subject to approval from the Australian Foreign Investment Review Board.
Blackstone Real Estate Income Trust (BREIT) has announced a significant leadership change. Wesley LePatner, the current Chief Operating Officer, will become BREIT's Chief Executive Officer on January 1, 2025. She will succeed Frank Cohen, who plans to retire from Blackstone at year-end after nearly 30 years with the company. Cohen will remain Chairman of BREIT's Board of Directors.
LePatner, who joined Blackstone in 2014, has been integral to BREIT's success, having helped conceive, build, and operationalize the strategy as COO and a Board member. BREIT's portfolio is over 85% concentrated in data centers, industrial, and rental housing sectors, which are benefiting from megatrends. Since its inception over seven and a half years ago, BREIT has delivered a 10% annualized net return on Class I, outperforming publicly traded REITs by approximately 2x.
M3, the leading hospitality accounting software in North America, has announced a majority investment from Blackstone Growth. This partnership aims to accelerate M3's growth by enhancing product expansion and supporting software adoption. AAHOA, representing nearly 20,000 hotel owners, will make its first strategic investment alongside Blackstone.
Founded in 1998, M3 has grown into a prominent back-office accounting software platform, serving over 1,000 hotel operators and management companies. The company offers solutions for accounting, labor management, and business intelligence to more than 8,000 properties across North America. M3 has been ranked as the top hotel accounting software provider by HotelTech Report for four consecutive years.
Chartis, a leading healthcare advisory firm, has announced a majority investment from Blackstone to support its continued growth and mission of healthcare transformation. The investment includes continued equity participation from Audax Private Equity. Blackstone's investment will enable Chartis to:
- Extend its capabilities across strategic, digital, technology, clinical, and financial transformation offerings
- Expand the Chartis family of companies
- Enhance infrastructure and grow organic offerings
The transaction is expected to close by the end of 2024, subject to customary conditions and regulatory approvals. This partnership aims to reshape healthcare, making it more accessible, affordable, reliable, equitable, and human-centered.
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.
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