blackstone acquisitions

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Probably Another Veil, Blackstone, Wellspring to acquire Performance Food Group in $1.3bn deal, "Byron Allen's Company Buys Weather Channel for $300 Million", "Anheuser-Busch Inbev and Blackstone announce completion of sale of Busch Entertainment Corporation", "Merlin Entertainments Gains on Debut After $1.5 Billion IPO", "Merlin Entertainments shares rise on London stock market debut", "Over and out: Dynegy and Blackstone call it quits", "Blackstone Said to Acquire Centro's U.S. Shopping Centers for $9.4 Billion", "Blackstone Sells Rest of Stake in Shopping-Center REIT Brixmor", "Blackstone Completes Acquisition of Emdeon", "Blackstone agrees to hand over Jack Wolfskin to lenders", "WHEW: Blackstone Almost Bought Knight Capital Before Its Stock Collapsed", "Accor to Sell Motel 6 to Blackstone for $1.9 Billion", "Blackstone Announces Closing of Vivint Transaction", "Nortek to Acquire 2Gig for $135M, Fold into Linear Security", "Blackstone drops out of race to buy Dell", "First Potomac Realty Trust Completes Sale Of Industrial Portfolio For $259 Million", "StonebridgeCarras to transform industrial park opposite Potomac Yard", "Blackstone Announces Strategic Investment in ThoughtFocus Technologies", "Blackstone Closes Acquisition of Strategic Partners from Credit Suisse", Versace deal with Blackstone values group at 1 billion euros, "Versace Sells Minority Stake to Blackstone", "Blackstone grants $4 million to create Colorado entrepreneurs network", "Deutsche Bank sells casino to Blackstone for $1.7 billion", "Vine Oil & Gas and Blackstone Energy Partners to Acquire Shell's Haynesville Assets", "Blackstone Announces Sale of Gold Fields House in Sydney to Dalian Wanda Group", "Blackstone Completes Acquisition of Excel Trust", "Blackstone to Sell GCA Services Group to Thomas H. Lee Partners and Goldman Sachs", "Blackstone Completes Acquisition Of BioMed Realty Trust", "Blackstone Sells 4 Office Towers To Douglas Emmett For $1.34B", "Leading Music Rights Organization SESAC to Be Acquired by Blackstone", "Blackstone to Buy Aon's Human Resources Outsourcing Platform for $4.3 Billion", "Alight, formerly part of Aon Hewitt, seeks to expand its cloud services portfolio", "Buyout fund Blackstone buys The Office Group valuing it at $640 million", "Pure Industrial Real Estate Trust enters into definitive agreement to be acquired by Blackstone for $8.10 in cash per unit in a $3.8 billion transaction", "Thomson Reuters Sells Stake in Unit to Blackstone-Led Group", "Blackstone Real Estate Income Trust Acquires $1.8 Billion Canyon Industrial Portfolio", "Blackstone Group Buys 22M SF Industrial Portfolio For $1.8B", "Blackstone to Make Strategic Minority Investment in Rockpoint", "Kohlberg Announces Strategic Investment by Blackstone", Freeman Finalizes Sale of Encore Event Technologies to PSAV | TSNN Trade Show News, "Blackstone to Acquire 1 billion Majority Stake in Luminor Through a Corporate Partnership", "Thomson Reuters closes deal with Blackstone", "Blackstone to Buy Clarus as It Jumps Into Life Sciences", "Yankee Global Enterprises with Strategic Partners Sinclair and Amazon Acquire YES Network from Disney", "Yankees partner with Amazon, Sinclair, and Blackstone to buy YES Network", "Blackstone acquires 51% stake in Essel Propack - Exchange4media", "Sudhanshu Vats Appointed CEO And MD At Essel Propack", "Blackstone joins 5.9B deal to take Legoland owner private", "Blackstone Announces Agreement to Acquire Vungle, a Leading Mobile Performance Marketing Platform", "Blackstone to Buy 65% of Park Operator Great Wolf Resorts", "Blackstone Takes Controlling Stake in Owner of Dating App Bumble", "Blackstone bets $167 mn more on Future Group's fashion business", "Blackstone Real Estate Income Trust Completes Acquisition of Bellegio from MGM Resorts International", "Blackstone to invest $400 million in gene therapy venture with Ferring", "Blackstone to Buy Majority Stake in Software Company HealthEdge", "Blackstone wraps up $700M deal for HealthEdge", "Activists sour on Oatly vegan milk after stake sold to Trump-linked Blackstone", "Is There No Ethical Oat Milk Consumption Under Capitalism? For information on our privacy practices see our Privacy Policy. See here for a complete list of exchanges and delays. The company seeks to change the narrative for women by providing original content that places women at the forefront. We are proud and excited to have our best-in-class company join Blackstone, whose expertise, resources and consistent access to capital will allow us to grow and continue to lead the student housing industry, said Bill Bayless, American Campus Communities Co-founder and Chief Executive Officer. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone. [166], In 2014, Blackstone sold Northern California office buildings for $3.5 billion. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties. The transaction price of $8.10 per share of PIRET represents a 21 per cent premium to the closing price of its shares on the TSX Monday and a 27 per cent premium to the current research consensus net asset value estimate of $6.40 per unit. [85], Blackstone operates through four primary departments: private equity; real estate; hedge funds; and credit. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. [55] Extended Stay Hotels was sold to The Lightstone Group in July 2007 and Prime Hospitality's Wellesley Inns were folded into La Quinta. They acquired Cvent for $4.6B. [53], While Blackstone was active on the corporate investment side, it was also busy pursuing real estate investments. In September 2019, Blackstone announced it agreed to purchase 65% controlling interest in, On November 8, 2019, Blackstone Group acquired a majority stake in MagicLab, the owner of dating app. BOSTON, MA & NEW YORK, NY - November 17, 2021 - Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone ("Blackstone") have completed their previously announced acquisition of International Data Group, Inc. ("IDG") from Oriental Rainbow, LLC, a subsidiary of China Oceanwide Holdings Group, Co. Ltd. for an enterprise [169], On December 1, 2022, Blackstone Inc. restricted withdrawals from its $125 billion real estate investment fund BRIET due to a surge in redemption requests from investors. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT). ContactsMatthew Anderson(518) 248-7310[emailprotected], Mariel Seidman-Gati(646) 482-3712[emailprotected]. Blackstone acquired the premium hotel operator for approximately $26 billion, representing a 25% premium to Hilton's all-time high stock price. Reuters reported last month that Cvent had rejected a previous offer of $3.9 billion from Blackstone and said it was exploring a sale that could value it at about $4 billion, citing a person familiar with the matter. [20] That same year, Blackstone partnered with Salomon Brothers to raise $600 million to acquire distressed thrifts in the midst of the savings and loan crisis. [50], Two years later, in 2005, Blackstone was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $11.3 billion. Blackstone's most notable transactions during this period included the following: In 2004, Blackstone had explored the possibility of creating a business development company (BDC), Blackridge Investments, similar to vehicles pursued by Apollo Management. The Firms most common exit type is trade sale (39%). The Firms most common investment types include buyout (lbo, mbo, mbi) (24%) and secondary buyout (23%). Blackstone was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson and Stephen A. Schwarzman, who had previously worked together at Lehman Brothers. By submitting this request, you consent to receive email from Blackstone. Among the investments included in this segment are funds of hedge funds, mezzanine funds, senior debt vehicles, proprietary hedge funds and closed-end mutual funds. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in . HE'S THE KING OF FRANCHISING, FOR ONE THING. Switchboard: +1 (212) 583-5000. Other notable investments that Blackstone completed in 2008 and 2009 included AlliedBarton, Performance Food Group,[79][80] Apria Healthcare and CMS Computers. Bain and Blackstone narrowly beat out, Travelport, the parent of the travel website Orbitz.com, was acquired from, In October 2006 Blackstone, together with. Portions of this site are directed only to persons in certain jurisdictions. Blackstone Inc.'s $70 billion real estate trust for wealthy individuals limited redemptions for a sixth . Blackstone spent at least $6.2 million to defeat California's Proposition 10, which would have allowed cities to enact rent control. Blackstone (NYSE: BX) announced the final close of its latest global real estate fund, Blackstone Real Estate Partners X (BREP X). Neither ACC nor BREIT undertakes any obligation to publicly update any forward-looking statements. Blackstones Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT), a U.S. non-listed REIT, and Blackstones European yield-oriented strategy. [34], In 1997, Blackstone completed fundraising for its third private equity fund, with approximately $4 billion of investor commitments[35] and a $1.1 billion real estate investment fund. Senior Vice President Capital Markets & Investor Relations. [74] However, Blackstone failed to raise capital through an initial public offering that summer and the project were shelved. [37] In 1998, Blackstone sold a 7% interest in its management company to AIG, valuing Blackstone at $2.1 billion. Read More Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. I am excited by the opportunity to work alongside the talented team that makes up this business in order to build upon a decades-long track record of success and innovation. Hipgnosis and Blackstone acquire 80% of Kenny Chesney's recorded music royalties January 19, 2022 By Tim Ingham Press Kenny Chesney Three months ago, MBW revealed that Merck Mercuriadis 's Hipgnosis had struck a mega-money partnership deal with investment titan Blackstone. For press inquiries, contact[emailprotected]. Ross brings the necessary skills and experience scaling global, sustainability-focused businesses to capitalize on this environment. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. Thomson Reuters and Blackstone's consortium subsequently agreed to sell Refinitiv to LSEG in August 2019. The Blackstone Group was formed in 1987 and is based in New York City. About BlackstoneBlackstone is the worlds largest alternative asset manager. We serve institutional and individual investors by building strong businesses that deliver lasting value. [40], Blackstone's investments in the late 1990s included AMF Group (1996), Haynes International (1997), American Axle (1997), Premcor (1997), CommNet Cellular (1998), Graham Packaging (1998), Centennial Communications (1999), Bresnan Communications (1999), PAETEC Holding Corp. (1999). Legence . Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Investors asked to redeem $4.5 billion in April from Blackstone Real Estate Income Trust, the same amount shareholders sought to pull in March, according to a letter Monday. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. For office-specific contact information, please visit our our offices page. American Campus Communities acquired by Blackstone Group . Mr. Shuster is a veteran executive who brings more than 25 years of leadership experience that will enable the business to unlock meaningful value in its next phase as a standalone company. By submitting this request, you consent to receive email from Blackstone. American Campus Communities, Inc. is the largest owner, manager and developer of high-quality student housing communities in the United States. [4]:4556 Blackstone finalized fundraising for its first private equity fund in the aftermath of the October 1987 stock market crash. ", Teachers Insurance and Annuity Association, List of outdoor industry parent companies, https://companiesmarketcap.com/kohlberg-kravis-roberts/revenue/, "Blackstone Group Inc 2021 Annual Report (Form 10-K)", "Blackstone Reports Third Quarter 2022 Results", Private equity power list: #1 The Blackstone Group, "English Translation of "schwarz" | Collins German-English Dictionary", "petro-, petr-, petri-, peter- - Word Information", "Strong's Greek: 4074. Portions of this site are directed only to persons in certain jurisdictions. Dentons US LLP served as ACCs legal counsel. No stranger to data centers, Blackstone and its affiliates of Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc., and Blackstone Property Partners bought the REIT for $10 billion and took the company . Switchboard:+1 (212) 583-5000. American Campus Communities . [56] La Quinta Inns & Suites was spun out for IPO in 2014 and was later acquired by Wyndham Hotels & Resorts[57]. The Blackstone Group is a global alternative investment management firm. BofA Securities served as ACCs lead financial advisor. To view recent press releases,click here. United Nations condemnation of the Invitation Homes project and lobbying efforts, Sorkin, Andrew Ross and Flynn, Laurie J. Also, in 1996, Blackstone partnered with the Loewen Group, the second largest funeral home and cemetery operator in North America, to acquire funeral home and cemetery businesses. Apr 26, 2023 IST 3 Min (s) Read Private equity firm Blackstone will acquire a majority stake in digital services provider R Systems International Ltd. Blackstone 's real estate investment trust (REIT) limited its redemptions for the sixth month in a row in April, after investors tried to pull $4.5 billion out of the property giant.. Blackstone Real Estate Income Trust (BREIT) let its shareholders pull out $1.3 billion, or roughly 29 percent of what they requested to withdraw, as a rush of investors looked to take money out of the $70 . Rajeev Aggarwal, founder and chief executive, said in November while the company is likely to take a hit from a potential recession, it also expected to win market share. For office-specific contact information, please visitour offices page. [4]:144147 He left Blackstone in 1999 to start his own private equity firm, Heartland Industrial Partners, based in Greenwich, Connecticut. They also planned to use a Blackstone fund to invest in financial institutions and help build an asset management business specializing in fixed income investments. Tysons, Virginia-based Cvent's shares, which fell about 34% last year, rose about 12% to $8.29 on Tuesday. In October 2021, the Blackstone Group acquired a majority stake of Spanx, Inc. Individual Investors & Financial Advisors. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. [39], In 1999, Blackstone launched its mezzanine capital business. In October 1991, Blackstone and Silverman added Days Inns of America for $250 million. The appointment follows an extensive global search process, including external and internal candidates. We do this by using extraordinary people and flexible capital to help companies solve problems. The real estate group will consider both equity and debt investments. [181], United Nations housing rapporteur Leilani Farha and Surya Deva, chair of the UN Working Group on Business and Human Rights, criticized Blackstone's business practices, including frequent rent increases and "aggressive" evictions, for contributing to the global housing crisis. Tysons, Va. - March 14, 2023 - Cvent Holding Corp. ("Cvent") (Nasdaq: CVT), an industry-leading meetings, events and hospitality technology provider, today announced that it has entered into a definitive agreement to be acquired by an affiliate of private equity funds managed by Blackstone ("Blackstone") in a transaction valued at an enterprise [160] From 1987 to its IPO in 2007, Blackstone invested approximately $20 billion in 109 private equity transactions.[14]. In 2012, Blackstone acquired a controlling interest in Utah-based Vivint, Inc., a home automation, security, and energy company. These risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include thosediscussed in the Companys and BREITs filings with the Securities and Exchange Commission, including the Companys Annual Report on Form 10-K for the year ended December 31, 2021 under the heading Risk Factors and under the heading Business Forward-looking Statements and subsequent quarterly reports on Form 10-Q, as well as BREITs Form 10-K for the year ended December 31, 2021 in the section entitled Risk Factors, BREITs prospectus and in the other periodic reports BREIT files with the SEC. Ltd. On November 18, 2019, Blackstone Real Estate Income Trust, Inc. acquired the, On November 25, 2019, Reuters reported that Blackstone planned to invest $400 million in a. For press inquiries, contact [emailprotected]. The industry is ready to fight back", "Norvergence reveals the real culprit of Amazon deforestation and wildfires", "Mandates of the Working Group on the issue of human rights and transnational corporations and other business enterprises and the Special Rapporteur on adequate housing as a component of the right to an adequate standard of living, and on the right to non-discrimination in this context", "Real Estate Roundtable Lobbying Profile", "UN accuses Blackstone Group of contributing to global housing crisis", Private investment in public equity (PIPE), Taxation of private equity and hedge funds, Private equity and venture capital investors, https://en.wikipedia.org/w/index.php?title=Blackstone_Inc.&oldid=1152370276, Companies listed on the New York Stock Exchange, Financial services companies based in New York City, Financial services companies established in 1985, Investment companies based in New York City, Private equity firms of the United States, Venture capital firms of the United States, Publicly traded companies based in New York City, Pages with non-numeric formatnum arguments, Pages containing links to subscription-only content, Articles with incomplete citations from September 2020, Short description is different from Wikidata, Articles containing potentially dated statements from 2019, All articles containing potentially dated statements, Articles with unsourced statements from February 2021, Official website different in Wikidata and Wikipedia, Articles with MusicBrainz label identifiers, Creative Commons Attribution-ShareAlike License 3.0, In December 2005, Blackstone together with a group of firms, including, Blackstone completed the $37.7 billion acquisition of one of the largest owners of commercial office properties in the US. Over 24 years, we've successfully placed superior resources from CEOs and C-suite officers, Directors, and Managers to Database Architects, Business Analysts, and SAP, Oracle, and Netsuite Implementation Program Managers in our clients' facilities. By selecting the relevant option, you certify that it accurately reflects your residency. NEW YORK February 2, 2023 Blackstone (NYSE:BX) announced today that Stephen Schwarzman, Chairman, CEO and Co-Founder, is scheduled to present at the Bank of America Securities 2023 Financial Services Conference on Thursday, February 16, 2023 at 12:30pm ET. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. In December 2020, Blackstone invested nearly $400 million in Liftoff, a mobile advertising company. [4]:221223, In 2007, Blackstone acquired Alliant Insurance Services, an insurance brokerage firm. [28] In 1993, Hospitality Franchise Systems acquired Super 8 Motels for $125 million. Do Too Many Cooks Spoil the Takeover Deal? [170] The move caused investor consternation and limited the ability to attract new capital for BRIET. [163], The purchase and subsequent IPO of Southern Cross led to controversy in the UK. The Blackstone Groups most common sectors for investment arecommunications (9%) and information technology (7%) . For press inquiries, contact [emailprotected]. Ross B. Shuster to Join as CEO of Standalone Climate Technologies Business Following the Close of the Acquisition by Blackstone from Emerson Published: April 24, 2023 at 9:00 a.m. In total, The Blackstone Group has invested in 27 US states and 27 different countries. As CEO of Howden, Mr. Shuster led the company through its carve-out from Colfax and sale to Chart Industries, driving significant growth, repositioning the business, and entering new markets. In December 2008, Blackstone announced that Kailix would be spun off to its management team to form a new fund as an independent entity backed by Blackstone. 13. M&A research that takes seconds (not all afternoon), Better understand your customers and prospects. In August 2021, the merger of two Blackstone portfolio companies, Vungle and Liftoff, was announced. [42], In October 2000, Blackstone acquired the mortgage for 7 World Trade Center from the Teachers Insurance and Annuity Association. Blackstone said it has received a $1 billion credit facility as part of the financing for the deal. Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. Blackstone's largest transaction, the $26 billion buyout of Hilton Hotels Corporation occurred in 2007 under the tenure of Hilton CFO Stephen Bollenbach. (Petros) -- "a stone" or "a boulder," Peter, one of the twelve apostles", "Blackstone's Chief Has a Warning for Wall Street's Entrepreneurs", A Big Fund Ready to Capitalize on Hard Times, CNW Accepts Buyout Bid From Blackstone Group, 2 Wall Street Firms Join To Buy Savings Units, "Stephen Schwarzman And Blackstone: Wall Street's Unstoppable Force", "U.S. Mergers Firm Is Forming British Link", Prime to Sell Interest in Inns to Blackstone, U.S. Mergers Firm Is Forming British Link, "WHO THE HELL IS HENRY SILVERMAN? [164][165], After the 20072010 subprime mortgage crisis in the United States, Blackstone Group LP bought more than $5.5 billion worth of single-family homes to rent, and then be sold when the prices rise. In February 2011, the company acquired Centro Properties Group US from, In November 2011, a fund managed by the company acquired medical biller, In late 2011, Blackstone Group LP acquired, In August 2012, Blackstone was part of a consortium that financed, In October 2012, the company acquired G6 Hospitality, operator of. New York Blackstone Inc. 's $70 billion real estate trust for wealthy individuals limited redemptions for a sixth straight month. Blackstone Group . The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point. At Lehman, Schwarzman served as head of Lehman Brothers' global mergers and acquisitions business. In April 2014, Blackstone's charitable arm, the Blackstone Charitable Foundation, donated $4 million to create the Blackstone Entrepreneurs Network in Colorado. The Blackstone Group Inc. BX, via its private equity label, has inked a $1.4 billion deal to acquire Sphera, a pioneer in providing environmental, social and governance ("ESG") software, data and. Their most recent diversity investment was on Nov 9, 2021, when Renaissance Learning raised Blackstone Group has had 62 exits. Blackstone's investment in Allied was one of its largest at that point in the firm's history. [4]:225 The involvement of seven firms in the consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive. Previously, he spent 12 years with United Technologies, holding several leadership positions including as a business unit President within the Climate, Controls & Security Global Business. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. [173][53], In separate cases in 2018 and 2019, the hotel chain Motel 6, owned by Blackstone, agreed to settle for a total of $19.6 million for giving guest lists to U.S. Immigration and Customs Enforcement (ICE) without a warrant.