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.
GTCR LLC and Blackstone (NYSE:BX) have announced a strategic partnership where Blackstone’s GP Stakes business will acquire a minority stake in GTCR. This collaboration aims to enhance GTCR's capabilities in serving its limited partners and growing its investment portfolio. GTCR, founded in 1980, focuses on growth investments across multiple industries and has a history of investing over $20 billion in over 250 companies. The partnership will allow access to Blackstone’s resources, including its extensive purchasing program and expertise in various operational areas.
Blackstone (NYSE:BX) announced the appointment of Brian X. Tierney as Senior Managing Director and Global Head of Infrastructure Portfolio Operations and Asset Management. With 23 years at American Electric Power (AEP), where he served as CFO and led strategy, Tierney will collaborate with portfolio company CEOs to enhance value creation. Steve Bolze, the former head, will transition to an Executive Advisor role. Tierney aims to apply his extensive operational and financial expertise to drive growth in Blackstone's infrastructure sector.
On July 19, 2021, Blackstone (NYSE: BX) announced a definitive agreement to acquire a controlling stake in Simplilearn Solutions, a premier online learning platform based in India. Simplilearn, founded in 2010, provides digital skills training to professionals globally. It is profitable and offers over 100 programs in various tech fields. This partnership aims to expand Simplilearn's growth through Blackstone's extensive resources and global network. Blackstone's entry into Asia's consumer technology sector emphasizes its commitment to the education technology market.
American International Group (AIG) and Blackstone have announced a definitive agreement for Blackstone to acquire a 9.9% equity stake in AIG's Life & Retirement business for $2.2 billion. AIG will also establish a long-term strategic asset management relationship with Blackstone to manage $50 billion of their investment portfolio, growing to $92.5 billion. Additionally, Blackstone Real Estate Income Trust will acquire AIG's U.S. affordable housing portfolio for approximately $5.1 billion. Expected transaction closures are set for Q3 and Q4 of 2021, respectively.
Blackstone (NYSE:BX) appointed Courtney della Cava as Senior Managing Director and Global Head of Talent & Leadership for its Portfolio Operations Group, effective August 1. Della Cava, previously a Partner at Bain & Company, will enhance leadership for over 200 portfolio companies. Jennifer Morgan, Global Head of Portfolio Operations, emphasized her expertise in talent development as critical for growth and investor value. Della Cava brings over 20 years of consulting experience and an MBA from Wharton, aiming to advance human capital across Blackstone's global investments.
Blackstone (NYSE:BX) has announced the acquisition of a majority stake in Certified Collectibles Group (CCG) for over $500 million. CCG specializes in authentication and grading services for collectibles and has certified over 62 million items valued at nearly $50 billion. Blackstone plans to accelerate CCG's growth by investing significantly in services, expanding its reach, and enhancing technology. CCG's leadership will remain intact, and Blackstone's extensive resources aim to bolster CCG's market presence in the collectibles industry.
Exeter Finance, a prominent indirect auto finance company, has announced its acquisition by a Warburg Pincus-led investor group from Blackstone. The terms of the transaction remain confidential. Exeter, which manages a loan portfolio exceeding $7 billion, serves over 1 million customers through its extensive network of 11,000 auto dealers. The acquisition aims to enhance Exeter's growth potential, with CEO Jason Grubb continuing in his role and investing in the firm. The deal is expected to finalize by the end of 2021, pending customary closing conditions.
Blackstone (NYSE:BX) announced a definitive agreement to invest in Simpli.fi, a leading programmatic advertising software company, valuing it at approximately $1.5 billion. This investment sees Blackstone joining GTCR as majority shareholders. Simpli.fi serves over 30,000 advertisers and manages more than 120,000 campaigns monthly. The partnership aims to enhance innovation and accelerate growth, capitalizing on the shift towards programmatic digital advertising. Blackstone has previously invested in other digital advertising tech firms and will contribute its resources to support Simpli.fi's growth trajectory.
Blackstone Real Estate Income Trust (BREIT) has agreed to acquire Home Partners of America (HPA) for $6.0 billion. This acquisition aims to expand housing access and help individuals transition to homeownership. HPA boasts a portfolio of over 17,000 homes and a commitment to responsible ownership, which BREIT plans to enhance with its experience in residential properties. The Choice Lease program will also be formally launched to address housing affordability challenges. The transaction is anticipated to close in Q3 2021, subject to approvals.
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