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 Real Estate Income Trust (BREIT) and LBA Logistics announced the recapitalization of two industrial portfolios valued at $1.6 billion. BREIT acquired approximately 60% interest in the 71 assets, spanning 9.5 million square feet and boasting 95% occupancy. The properties, located mainly in top-performing markets like California and Seattle, align with BREIT's strategic focus on last-mile logistics. Following this transaction, over 90% of BREIT's investments will be in multifamily, industrial, and net leased assets, with industrial comprising more than 35% of its portfolio.
Blackstone (NYSE:BX) has appointed Michael Hovey as Senior Managing Director for Blackstone Insurance Solutions (BIS). Hovey brings over 23 years of insurance investment banking experience, most recently serving at Morgan Stanley as Co-Head of Insurance Investment Banking in North America. He will lead investments and strategic partnerships at BIS, which manages over $60 billion in assets for insurance companies. Executives express enthusiasm for Hovey's leadership, highlighting his extensive expertise as crucial for identifying new investment opportunities in the insurance sector.
Blackstone (NYSE:BX) has appointed Jeff Margolis as a Senior Advisor, bringing over 35 years of healthcare technology experience. Margolis, formerly CEO of Welltok and TriZetto, aims to leverage his expertise to aid Blackstone in investing in innovative healthcare solutions. Ram Jagannath, a Senior Managing Director, expressed enthusiasm for Margolis’s strategic insight in advancing healthcare technologies. Margolis’s track record includes transforming Welltok from a start-up to a leading consumer activation company. This appointment is expected to enhance Blackstone’s capabilities in navigating the evolving healthcare landscape.
Blackstone (NYSE:BX) has appointed retired four-star General David L. Goldfein as a Senior Advisor. General Goldfein, the 21st Chief of Staff of the U.S. Air Force, brings extensive experience in strategy and management. He previously oversaw over 693,000 personnel and a budget exceeding $168 billion. His role will involve advising on Blackstone’s strategic decisions and enhancing veteran employment initiatives, with a goal of hiring 100,000 veterans by 2022. This appointment signals an investment focus on technology across various industries.
Blackstone (NYSE:BX) appointed Frank Slootman as a Senior Advisor, leveraging his extensive experience in the enterprise software sector. Slootman, currently the CEO of Snowflake, will play a key advisory role focusing on Blackstone Growth (BXG). Known for his successful leadership in software companies such as ServiceNow, where he boosted revenues to $1.4 billion, Slootman's insights are expected to benefit Blackstone’s investment strategies in high-growth technology companies. His broad expertise aims to strengthen the firm's capability to support entrepreneurs.
Blackstone announced that its non-listed business development company, Blackstone Private Credit Fund (BCRED), has raised approximately $814 million in net proceeds as part of its continuous public offering, which broke escrow on January 7, 2021. With leverage, BCRED may offer around $1.8 billion in investable capital. Blackstone Credit, managing about $135 billion in assets, aims to provide income-focused individual investors access to private credit. The initial response to BCRED indicates a strong demand for income solutions in the current low-interest rate environment.
Blackstone (NYSE:BX) has appointed Joe Dowling, previously the CEO of Brown University's Investment Office, as Global Co-Head of Blackstone Alternative Asset Management (BAAM). Dowling, who has a strong track record in hedge fund investment and capital allocation, will lead BAAM’s investment activities, joining John McCormick, who oversees business functions. BAAM manages $78 billion in assets and focuses on hedge fund allocations and diversified investment strategies. This leadership change is expected to enhance BAAM's growth and performance, benefiting investors.
Byron R. Wien and Joe Zidle of Blackstone have presented their Ten Surprises of 2021, marking the 36th year of Wien's predictions on economic and financial events. The surprises include former President Trump's television network launch, a potential thaw in U.S.-China trade relations, and a rebound in the economy driven by pent-up demand. They also anticipate a steep rise in the 10-year Treasury yield and a recovery in the equity market that broadens beyond tech and healthcare stocks.
Blackstone (NYSE:BX) has signed a 41,000-square-foot lease at 2 MiamiCentral in Downtown Miami, aiming to bolster its technology workforce by hiring over 200 tech-focused employees. With this lease, 2 MiamiCentral is now 98% leased to various national tenants, solidifying its position in a thriving South Florida office market. Blackstone's Chief Technology Officer highlighted Miami's robust tech talent pool as a driving factor for the relocation. Financial terms of the lease were not disclosed, but the deal underscores South Florida's emergence as a technology hub.
Liftoff, a mobile app marketing optimization platform, announced a majority investment agreement with private equity funds managed by Blackstone (NYSE:BX). This partnership aims to enhance Liftoff's technological capabilities and global reach in the high-growth mobile app ecosystem. Founded in 2012, Liftoff operates in over 90 countries, delivering more than one billion ads daily. Blackstone's investment is expected to accelerate Liftoff's growth initiatives and product offerings, with the transaction closing early next year, subject to customary conditions.
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