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 that Jon Gray, President and COO, will present at the Bank of America Securities 2020 Future of Financials Conference on November 10, 2020, at 12:30 pm ET. A live webcast will be available on Blackstone’s website, and a replay can be accessed afterward. Blackstone, a leading investment firm with $584 billion in assets under management, focuses on creating long-term value across various sectors, including private equity and real estate. For more details, visit Blackstone's website.
Blackstone (NYSE: BX) has announced the final close of its second vintage long-hold private equity strategy, Blackstone Core Equity Partners (BCEP II), reaching a hard cap of $8 billion, over 70% larger than its predecessor. This marks the largest capital raised from external investors for a long-hold private equity vehicle ever. The strategy, initiated in 2014, aims at investing in high-quality companies for extended periods. Blackstone's private equity arm manages $184 billion in assets and has a history of identifying value and enhancing company performance.
Blackstone Real Estate Income Trust (BREIT) announced a definitive agreement to acquire Simply Self Storage from Brookfield Asset Management for approximately $1.2 billion. This acquisition will enhance BREIT’s position as the third largest non-listed owner of storage in the U.S., adding to its existing $300 million portfolio of self-storage facilities. Frank Cohen, BREIT's CEO, highlighted the potential for growth in the resilient self-storage sector, which offers stable cash flows and low tenant turnover. The transaction is expected to close before the end of 2020, subject to customary conditions.
Blackstone (NYSE: BX) announced the sale of BioMed Realty for $14.6 billion to a group led by existing investors. This strategic move, part of Blackstone's long-term core+ capital strategy, aims to maintain exposure in life science real estate, a high-conviction sector. Blackstone’s investment in BioMed has generated $6.5 billion in cumulative profits since acquiring it in 2016. The recapitalization will offer existing investors the option to exit for cash or reinvest. The transaction is set to close within five business days after the “go-shop” process.
On October 14, 2020, N. Beth Emery, Senior Vice President of GridLiance, received the Silver Stevie Award for Lifetime Achievement in Business at the Stevie Awards for Women in Business. With over 40 years in the energy sector, Emery is recognized for her significant contributions, including her role in founding GridLiance, an independent electric transmission company. The award highlights her commitment to empowering women in a traditionally male-dominated industry and her community contributions. Emery announced her retirement set for the end of the year, continuing her service as special counsel.
ZO Skin Health, a premium skincare brand, announced a majority stake acquisition by funds managed by Blackstone Tactical Opportunities. The terms of the transaction remain undisclosed. Founded in 2007 by Dr. Zein Obagi, ZO focuses on delivering high-quality skincare products globally. Blackstone's involvement aims to enhance ZO's growth and strengthen its market position in the professional skincare industry.
Blackstone has successfully completed an offering totaling $900 million, consisting of $500 million in 1.600% senior notes due in 2031 and $400 million in 2.800% senior notes due in 2050. These notes are fully guaranteed by The Blackstone Group and its subsidiaries. The proceeds will be utilized for general corporate purposes. The notes are offered under Rule 144A and Regulation S of the Securities Act of 1933, and they remain unregistered, prohibiting sales in the U.S. without proper registration or exemption.
GridLiance announced the appointment of Mark S. Laufman as executive vice president, chief legal officer, and secretary, effective immediately. He succeeds N. Beth Emery, who will retire on December 31, 2020 after over 40 years in the energy legal sector. Laufman, who has over 30 years of experience in energy law, previously advised GridLiance since December 2019. Emery will continue as a senior advisor post-retirement. The transition is set to bolster GridLiance's market position, benefiting from Laufman's industry connections and legal expertise.
Loanpal, the leader in residential solar financing, announced a commitment from Blackstone to invest up to $300 million in residential solar loans. This financing aims to provide solar systems for 10,000 homeowners, significantly reducing their carbon footprints. Loanpal has financed over 130,000 solar systems, generating over 1 Tera Watt Hour of carbon-free energy annually. The partnership highlights the growing demand for renewable energy and positions Loanpal for further expansion in the U.S. market.
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