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. (NYSE: BX) generates frequent news coverage as the world’s largest alternative asset manager, and its announcements highlight activity across real estate, private equity, credit, infrastructure and energy-related investments. This news page aggregates updates drawn from Blackstone’s own releases and regulatory disclosures so readers can follow how the firm deploys capital and manages its portfolio.
Recent items illustrate the breadth of Blackstone’s activity. Funds managed by Blackstone’s private equity strategy for individual investors became the sole institutional investor in AIR Control Concepts, a commercial HVAC, electrical and controls platform operating across numerous U.S. states and Canada. Blackstone Energy Transition Partners and other Blackstone funds acquired Alliance Technical Group, an environmental testing, monitoring and compliance services provider, and announced a majority ownership position in a combined MacLean Power Systems and Power Grid Components platform serving the electrical grid.
Other news features include Blackstone Energy Transition Partners’ investment in Wolf Summit Energy, a combined-cycle natural gas power generation facility in West Virginia, as well as a strategic partnership with Phoenix Financial focused on corporate, real estate and asset-based credit. Blackstone Credit & Insurance has also announced a forward flow origination partnership with Harvest Commercial Capital to acquire small business loans secured by first lien mortgages on owner-occupied commercial real estate.
In addition, Blackstone issues updates on capital markets activity, such as senior notes offerings by an indirect financing subsidiary, and appearances at financial conferences. Investors and observers can use this page to review earnings-related releases, financing transactions, major investments, partnerships and leadership appointments connected to Blackstone’s global alternative asset management business.
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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.
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