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. Blackstone had been an original investor in GSO's funds. Dentons US LLP served as ACCs legal counsel. Our Standards: The Thomson Reuters Trust Principles. It has also invested in 11 others. United States 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. By selecting the relevant option, you certify that it accurately reflects your residency. [174][175], The company has invested in companies with links to the commercialization and deforestation of the Amazon rainforest.[176][177][178][179]. The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point. Blackstone acquired Prime Hospitality[54] and Extended Stay America in 2004. [13], Blackstone also ventured into other businesses, most notably investment management. ", Sorkin, Andrew Ross and de la Merced, Michael J. Ross brings the necessary skills and experience scaling global, sustainability-focused businesses to capitalize on this environment. Download Prospectus. Hello Sunshine is a mission-driven content and media business founded by Reese Witherspoon. Bain and Blackstone narrowly beat out, Travelport, the parent of the travel website Orbitz.com, was acquired from, In October 2006 Blackstone, together with. [11][12], From the outset in 1985, Schwarzman and Peterson planned to enter the private equity business but had difficulty in raising their first fund because neither had ever led a leveraged buyout. The appointment follows an extensive global search process, including external and internal candidates. (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? Blackstone Group's Blackstone Real Estate Income Trust (BREIT) has reached an agreement for the acquisition of Home Partners of America (HPA). In October 2021, the Blackstone Group acquired a majority stake of Spanx, Inc. Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. For office-specific contact information, please visitour offices page. [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). NOW HE'S GOING TO TRY SOMETHING REALLY BIG. Visit www.americancampus.com. [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. Blackstone to Acquire International Data Group, a Leading Market Intelligence and Data Platform for the Technology Industry. Blackstone announced that it will open a new office in Frankfurt, Germany. In April 2022, Blackstone agreed to acquire the Austin-based, In April 2022, Blackstone announced that it would acquire, Reginald ("Reg") J. 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. Further information is available at www.blackstone.com. 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 (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). [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. about Blackstone Real Estate Announces Sale of a Logistics Portfolio in Japan, Representing One of the Largest Logistics Portfolio Transactions in the Country, about Ross B. Shuster to Join as CEO of Standalone Climate Technologies Business Following the Close of the Acquisition by Blackstone from Emerson, about Blackstone Reports First Quarter 2023 Earnings Results, about Blackstone Announces $30.4 Billion Final Close for Largest Real Estate Drawdown Fund Ever, about Blackstone Announces First Quarter 2023 Investor Call, about Blackstone Announces Opening of New Office in Frankfurt, Germany, about Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction, about Blackstone and Sixth Street Complete Sale of Kensington Mortgages to Barclays Bank UK PLC, about Blackstone to Present at the Bank of America Securities Financial Services Conference 2023, Individual Investors & Financial Advisors, Blackstone Real Estate Announces Sale of a Logistics Portfolio in Japan, Representing One of the Largest Logistics Portfolio Transactions in the Country, Ross B. Shuster to Join as CEO of Standalone Climate Technologies Business Following the Close of the Acquisition by Blackstone from Emerson, Blackstone Reports First Quarter 2023 Earnings Results, Blackstone Announces $30.4 Billion Final Close for Largest Real Estate Drawdown Fund Ever, Blackstone Announces First Quarter 2023 Investor Call, Blackstone Announces Opening of New Office in Frankfurt, Germany, Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction, Blackstone and Sixth Street Complete Sale of Kensington Mortgages to Barclays Bank UK PLC, Blackstone to Present at the Bank of America Securities Financial Services Conference 2023. 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. 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 For office-specific contact information, please visitour offices page. KeyBanc Capital Markets Inc. also acted as a financial advisor. Blackstone is a global leader in real estate investing. About BlackstoneBlackstone is the worlds largest alternative asset manager. The district court then granted Blackstone's motion to dismiss for failure to state a claim. A live webcast of the presentation will be available on the Shareholders section of Blackstones []. Blackstone is a member of the Real Estate Roundtable, a special interest group which spends millions on lobbying and political donations every year. 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. [14], Blackstone has primarily relied on private equity funds, pools of committed capital from pension funds, insurance companies, endowments, fund of funds, high-net-worth individuals, sovereign wealth funds, and other institutional investors. In 2012, Blackstone acquired a controlling interest in Utah-based Vivint, Inc., a home automation, security, and energy company. American Campus Communities acquired by Blackstone Group . 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. BofA Securities served as ACCs lead financial advisor. For office-specific contact information, please visit our our offices page. The firm focuses on friendly investments in large capitalization companies. As of June 30, 2022, American Campus Communities owned 166 student housing properties containing approximately 111,900 beds. Including its owned and third-party managed properties, ACCs total managed portfolio consisted of 204 properties with approximately 143,100 beds. Blackstone followed these investments with the acquisition of La Quinta Inns & Suites in 2005. Individual Investors & Financial Advisors. The Firms most common investment types include buyout (lbo, mbo, mbi) (24%) and secondary buyout (23%). [31][32][33], In 1995, Blackstone sold its stake in BlackRock to PNC Financial Services for $250 million. ET The new flagship location will occupy 1,300 square meters in the OMNITURM in Frankfurts financial district and serve as a hub for Blackstone in Germany. New York, Otherwise, we will assume you're OK to continue. In October 1991, Blackstone and Silverman added Days Inns of America for $250 million. [4]:144147 He left Blackstone in 1999 to start his own private equity firm, Heartland Industrial Partners, based in Greenwich, Connecticut. Companies Contacts Investors Funding Rounds Acquisitions People Events . 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). [170] The move caused investor consternation and limited the ability to attract new capital for BRIET. 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. "Schwarz" is German for "black"; "Peter", "Petros" or "Petra" ( and , the masculine and feminine rendering of the word, respectively), in Greek means "stone" or "rock". [4]:176,197,206207[48] Blackstone also purchased a majority interest in Columbia House, a music-buying club, in mid-2002. [56] La Quinta Inns & Suites was spun out for IPO in 2014 and was later acquired by Wyndham Hotels & Resorts[57]. Both companies are in the mobile advertising space. The company was valued at US$1.2 billion. The district court concluded that the complaint, by focusing exclusively on Blackstone's acquisition of Ancestry, did not adequately allege any compulsory disclosure, as required by Section 30 of GIPA. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. For press inquiries, contact[emailprotected]. HE'S THE KING OF FRANCHISING, FOR ONE THING. Haynes and Republic Technologies International, both had problems and ultimately filed bankruptcy. PIRET will be acquired by Blackstone Property Partners in a $3.8 billion transaction. In July 2008, Blackstone, together with NBC Universal and Bain Capital acquired The Weather Channel from Landmark Communications for $3.5 billion. After a resistance of residents and questions regarding the legality of the purchase agreement, Blackstone withdrew from it in October 2019. Switchboard:+1 (212) 583-5000. By submitting this request, you consent to receive email from Blackstone. TRW's parent was acquired by Northrop Grumman, while Blackstone purchased its automotive parts business, a major supplier of automotive systems. [29] Silverman would ultimately leave Blackstone to serve as CEO of HFS, which would later become Cendant Corporation. Blackstone said it has received a $1 billion credit facility as part of the financing for the deal. Thomson Reuters and Blackstone's consortium subsequently agreed to sell Refinitiv to LSEG in August 2019. Do Too Many Cooks Spoil the Takeover Deal? Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B. [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. In 1987 Blackstone entered into a 5050 partnership with the founders of BlackRock, Larry Fink (current CEO of BlackRock), and Ralph Schlosstein (CEO of Evercore). 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. Sectors of Interest: Agriculture, Airlines, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Electrical Equipment, Electronics, Energy Services and Equipment, Environmental, Financial Services, Food, Franchising, Gaming, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Leisure, Life Science, Machinery, Manufacturing, Marine, Marketing, Media, Medical Products, Metals/Mining, Oil/Gas Exploration, Packaging, Publishing, Real Estate, Renewable Energy, Restaurants, Retail, Safety/Security, Semiconductors, Software, Staffing, Technology Hardware, Transportation, Utilities, Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed, PIPE, Secondary Buyout, Stake Purchase, Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia, Asia/Pacific, Australia/New Zealand, Central Asia/India.
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