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.
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.
Blackstone (NYSE: BX) has announced a $250 million investment to establish a new CAR T-cell therapy company alongside Intellia Therapeutics (NASDAQ: NTLA) and Cellex. This venture will feature a blend of GEMoaB's advanced CAR-T technology and Intellia's CRISPR genomic engineering. Aimed at improving efficacy and safety across various cancers, the new company will be based in Cambridge, Massachusetts, with operations in Germany. Andrew Schiermeier will lead this initiative, focusing on providing innovative treatments for tough-to-treat cancers and autoimmune conditions.
Blackstone (BX) and Vista Equity Partners have announced their agreement to acquire Ellucian, a leading higher education technology provider, from TPG Capital and Leonard Green & Partners. This investment will focus on innovation in digital transformation within the higher education sector, leveraging Ellucian's comprehensive ERP solutions. With over 2,700 customers globally, Ellucian aims to enhance operational efficiency for educational institutions. Blackstone emphasizes a long-term commitment, aiming to develop Ellucian's SaaS platform and expand its international market reach.
QTS Realty Trust (NYSE: QTS) and Blackstone (NYSE: BX) announced a definitive agreement for Blackstone to acquire all outstanding shares of QTS for $78.00 per share, valuing the transaction at approximately $10 billion. This represents a 21% premium to QTS' closing share price as of June 4, 2021. The deal, approved unanimously by QTS' Board, is expected to close in the second half of 2021, pending stockholder and regulatory approvals. QTS will maintain its management team and corporate headquarters post-transaction.
Blackstone (NYSE:BX) has agreed to acquire International Data Group, Inc. (IDG) from Oriental Rainbow for an enterprise value of $1.3 billion. Founded in 1964, IDG specializes in market intelligence for the technology sector. This acquisition aims to enhance IDG's capabilities and allow for substantial investment in growth opportunities. Blackstone's investment is expected to accelerate IDG's product offerings and market leadership. The deal is part of IDG's strategy to leverage advanced analytics to meet the increasing demand for technology insights.
Blackstone (NYSE:BX) announced that CFO Michael Chae will present at Morgan Stanley’s Virtual Financials, Payments, and CRE Conference on June 15, 2021, at 1:15 pm ET. A live webcast of the presentation can be accessed on Blackstone’s Shareholders section of their website. A replay will also be available shortly after the event for those unable to listen live. Blackstone manages $649 billion in assets across diverse investment vehicles and focuses on creating long-term value.
Walker Edison, a leading e-commerce furniture supplier, announced a significant minority investment from Blackstone Tactical Opportunities (NYSE: BX) on May 24, 2021. The company's founders and Prospect Hill Growth Partners retain majority control. Walker Edison is recognized for its data-driven solutions and extensive logistical network, powering major e-commerce platforms with ready-to-assemble furniture. Blackstone sees potential for growth amid the increasing online purchasing trend, capitalizing on Walker Edison's technological strengths. Financial terms of the investment were not disclosed.
Blackstone (NYSE:BX) has appointed Alasdair Cathcart as a Senior Advisor to Blackstone Energy Partners, bringing over 30 years of experience from Bechtel, where he oversaw large energy projects. His expertise is expected to enhance Blackstone’s strategy in identifying opportunities for cleaner and more efficient energy solutions. The Global Head of Blackstone Energy, David Foley, expressed confidence that Cathcart’s deep experience will strengthen the team’s capabilities. Cathcart previously led Bechtel’s Oil, Gas & Chemicals division, managing thousands of professionals across multiple business lines.
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