By selecting the relevant option, you certify that it accurately reflects your residency. 345 Park Avenue, Our scale - with more than 12,000 real estate assets and 250 portfolio companies - enables us to invest in dynamic sectors positioned for long-term growth. In November 2012, the company acquired a controlling interest in Vivint, In April 2013, the company discussed buying, In June 2013, Blackstone Real Estate Partners VII acquired an industrial portfolio from, In September 2013, Blackstone announced a strategic investment in ThoughtFocus Technologies LLC, an, In August 2013, Blackstone acquired Strategic Partners, manager of, In February 2014, Blackstone purchased a 20% stake in the Italian luxury brand. Blackstone provides $1.2-billion in financing to Westland Insurance Tysons, Virginia-based Cvent's shares, which fell about 34% last year, rose about 12% to $8.29 on Tuesday. Blackstone was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman with $400,000 in seed capital. 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 . United Nations condemnation of the Invitation Homes project and lobbying efforts, Sorkin, Andrew Ross and Flynn, Laurie J. [83][84], In August 2010, Blackstone announced it would buy Dynegy, an energy firm, for nearly $5 billion; however, the acquisition was terminated in November 2010. 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. Blackstone (NYSE: BX) and Sixth Street today announced that funds affiliated with Blackstone Tactical Opportunities (Blackstone) and Sixth Street, have completed the previously announced sale of Kensington Mortgages (Kensington), the fast-growing specialist mortgage lender, to Barclays Bank UK PLC (Barclays). Download Prospectus. It denied blame, although Blackstone was widely accused in the media for selling on the company with an unsustainable business model and crippled with an impossible sale and leaseback strategy. PEOPLES BANCORP COMPLETES ACQUISITION OF LIMESTONE BANCORP - Yahoo Finance 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 [29] Silverman would ultimately leave Blackstone to serve as CEO of HFS, which would later become Cendant Corporation. Our goal is to provide a comprehensive talent acquisition . ET. By submitting this request, you consent to receive email from Blackstone. The close of the transaction remains on track for the first half of the 2023 calendar year.The standalone Climate Technologies business includes the market-leading Copeland compressor business and the entire portfolio of products and services across all HVACR end-markets, representing approximately $5.0 billion of Emersons fiscal 2022 sales. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Legence acquired by Blackstone Group . 6/3/2021. For press inquiries, contact [emailprotected]. Our perpetual capital will enable ACC to invest in its existing assets and create much-needed new housing in university markets.. For office-specific contact information, please visitour offices page. This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. A group of private equity firms, including Blackstone Group, Carlyle Group and Hellman & Friedman, agreed to buy a majority stake in medical supply manufacturer and distributor Medline. Blackstone to acquire majority stake in R Systems for Rs 2,904 crore See here for a complete list of exchanges and delays. In 2018, the remainder of the company was sold to Byron Allen for $300 million. ET. 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. A rout in tech stocks last year shrank company valuations, making them enticing targets for private equity suitors. This business evolved into Blackstone's marketable alternative asset management segment, which was opened to institutional investors. Read More During the financial crisis of 20072008, Blackstone managed to close only a few transactions. For press inquiries, contact[emailprotected]. Blackstone followed these investments with the acquisition of La Quinta Inns & Suites in 2005. [168], In 2018, a critique was raised regarding a purchase agreement on several hundred apartments in Frederiksberg, Denmark, between Blackstone's Danish partner North 360 and Frederiksberg Boligfond, a non-profit housing organization established by Frederiksberg Municipality in 1930. To view recent press releases,click here. Blackstone expands further into rental housing in the United States. Home - Blackstone As of today's closing, Thomson Reuters indirectly owns 82.5 million LSEG shares, which have a market value of approximately $9.8 billion based on LSEG's closing share price on January 28, 2021. Blackstone Completes Acquisition of International Data Group, a Leading In July 2008, Blackstone, together with NBC Universal and Bain Capital acquired The Weather Channel from Landmark Communications for $3.5 billion. 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. List of Blackstone Group 's 148 Acquisitions, including Cvent and R Systems. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. He also serves on the firm's executive and management committees, and its board of directors. In October 2021, the Blackstone Group acquired a majority stake of Spanx, Inc. In March 2018, Blackstone Real Estate Income Trust, Inc. acquired a 22 million square foot portfolio of industrial properties from Cabot Properties for $1.8 billion. In addition to historical information, this press release contains forward-looking statements under the applicable federal securities law. All quotes delayed a minimum of 15 minutes. In August 2021, the merger of two Blackstone portfolio companies, Vungle and Liftoff, was announced. Real Estate - Blackstone Blackstone Funds Complete $13 Billion Acquisition of American Campus HE'S THE KING OF FRANCHISING, FOR ONE THING. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Will Put $1.35 Billion Into Blackstone, A trash hauler is buying a much bigger rival, a type of deal that makes Wall Street a bit nervous, "Blackstone Acquires Debt on 7 World Trade Center", Vivendi Finishes Sale of Houghton Mifflin To Investors, "At Blackstone, James Builds A Following", Blackstone Group May Purchase Auto Parts Business From TRW, Blackstone Buys Majority Stake in Columbia House, A Split-Up of Insurers of Bonds Is Considered, Capital Firms Agree to Buy SunGard Data in Cash Deal. For office-specific contact information, please visit our our offices page. American Campus Communities, Inc. is the largest owner, manager and developer of high-quality student housing communities in the United States. Blackstone (BX) To Buy ESG Software Firm Sphera for $1.4B [162], Blackstone's most notable real estate investments have included EQ Office, Hilton Worldwide, Trizec Properties, Center Parcs UK, La Quinta Inns & Suites, Motel 6, Wyndham Worldwide, Southern Cross Healthcare and Vicinity Centres. At the end of 2002, Blackstone, together with Thomas H. Lee Partners and Bain Capital, acquired Houghton Mifflin Company for $1.28 billion. At the time of its announcement, the EQ Office buyout became the largest in history, surpassing the buyout of, A consortium led by Blackstone and including the, Blackstone, together with Bain Capital, acquired Michaels, the largest arts and crafts retailer in North America in a $6.0 billion leveraged buyout in October 2006. In 2009, Blackstone purchased Busch Entertainment (comprising the Sea World Parks, Busch Garden Parks and the two water parks). Blackstone to acquire majority stake in R Systems for Rs 2,904 crore Blackstone is buying the promoters' stake for Rs 245 per share, a premium of 3.9 per cent on the current price of Rs 235.8 per share. [81], In December 2009, Blackstone acquired Busch Entertainment Corporation from Anheuser-Busch InBev for $2.9 billion. On July 15, 2019, Blackstone announced its plans to acquire Vungle Inc., a leading mobile performance marketing platform. The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point. For press inquiries, contact[emailprotected]. Blackstone Group elevates India PE head Amit Dixit to head of Asia PE The acquisition became effective as of the close of business on April 30, 2023. . Blackstone Group on November 15, 2019, invested $167 million in the holding company of Future Lifestyle Fashions Ltd., Ryka Commercial Ventures Pvt. Switchboard: +1 (212) 583-5000. 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 . 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. American Campus Communities acquired by Blackstone Group . Events software provider Cvent accepts Blackstone's $4.6 bln deal This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. BSP does not make any recommendation regarding, and will not monitor, any investment. Blackstone (NYSE: BX) announced that, upon close of the previously announced transaction through which private equity funds managed by Blackstone (Blackstone) will acquire a majority stake in Emersons (NYSE: EMR) Climate Technologies business, Ross B. Shuster will become Chief Executive Officer of the new standalone business. For information on our privacy practices see our Privacy Policy. Blackstone acquires ACC in $12.8bn transaction - Financier Worldwide 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. Private Equity - Blackstone Brown: independent director, This page was last edited on 29 April 2023, at 20:50. This is their second majority acquisition of an Indian tech firm after it acquired a controlling stake in Mphasis for nearly $3 billion in April last year. Blackstone's most notable investments include Allied Waste,[39] AlliedBarton Security Services, Graham Packaging, Celanese, Nalco, HealthMarkets, Houghton Mifflin, American Axle, TRW Automotive, Catalent Pharma Solutions, Prime Hospitality, Legoland, Madame Tussauds,[161] Luxury Resorts (LXR), Pinnacle Foods, Hilton Hotels Corporation, Motel 6, Apria Healthcare, Travelport, The Weather Channel (United States) and The PortAventura Resort. [74] However, Blackstone failed to raise capital through an initial public offering that summer and the project were shelved. Otherwise, we will assume you're OK to continue. By submitting this request, you consent to receive email from Blackstone. Blackstone had been an original investor in GSO's funds. The company seeks to change the narrative for women by providing original content that places women at the forefront. To receive email alerts from Blackstone, sign up below. Now with the focus of a standalone company, and with the support of Blackstone, we are poised to build this already strong business into an unmatched global leader in the areas of energy efficiency and sustainability., We are thrilled to welcome Ross and are confident he is the right person to lead this world-class business as we prepare to further advance its position as the partner of choice in the climate technologies space, said Seth Meisel, Senior Managing Director at Blackstone. Blackstone's investment in Allied was one of its largest at that point in the firm's history. The GSO team had previously managed the leveraged finance businesses at Donaldson, Lufkin & Jenrette and later Credit Suisse First Boston, after they acquired DLJ. This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where Blackstone Real Estate Income Trust ("BREIT") is authorized for distribution. The Hilton deal, announced on July 3, 2007, is often referred to as the deal that marked the "high water mark" and the beginning of the end of the multi-year boom in leveraged buyouts. Cvent was valued at $5.3 billion in 2021 when Vista, which had acquired it for $1.65 billion a few years ago, took it public in a merger with a blank-check acquisition company. Blackstone acquired the premium hotel operator for approximately $26 billion, representing a 25% premium to Hilton's all-time high stock price. Agencies Mumbai: US-based private equity major Blackstone has bought a controlling stake in ASK Group for $1 billion, two people with direct knowledge of the matter said. In January 2016, Blackstone Real Estate Partners VIII L.P. acquired BioMed Realty Trust for $8 billion. ORLANDO, Fla. (July 19, 2017) - Hilton Grand Vacations Inc. (NYSE:HGV) ("HGV" or "the Company") announces the formation of a joint venture with affiliates of Blackstone Real Estate Partners VIII L.P., which purchased Elara, a Hilton Grand Vacations Club. During the buyout boom of 2006 and 2007, Blackstone completed some of the largest leveraged buyouts. We serve institutional and individual investors by building strong businesses that deliver lasting value. [159] The firm invests through minority investments, corporate partnerships, and industry consolidations, and occasionally, start-up investments. For office-specific contact information, please visit our our offices page. [82], In November 2013, Merlin Entertainments, owned in part by Blackstone Group, became a public company via an initial public offering on the London Stock Exchange. In August 2020, Blackstone acquired Takeda Consumer Healthcare for $2.3 billion. BofA Securities served as ACCs lead financial advisor. 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