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. 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. For press inquiries, contact[emailprotected]. 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. BofA Securities served as ACCs lead financial advisor. The deal includes assets worth $2.6 billion. [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. [85], Blackstone operates through four primary departments: private equity; real estate; hedge funds; and credit. Blackstone Bets on Campus Housing With $13 Billion Acquisition It has also invested in 11 others. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. FGIC incurred heavy losses, along with other bond insurers in the 2008 credit crisis. [81], In December 2009, Blackstone acquired Busch Entertainment Corporation from Anheuser-Busch InBev for $2.9 billion. The Blackstone Groups most common sectors for investment arecommunications (9%) and information technology (7%) . By selecting the relevant option, you certify that it accurately reflects your residency. Blackstone will host its first quarter 2023 investor conference call via public webcast on April 20, 2023 at 9:00 a.m. A rout in tech stocks last year shrank company valuations, making them enticing targets for private equity suitors. Follow @blackstone on LinkedIn, Twitter, and Instagram. Cvent Holding Corp. (Cvent) (Nasdaq: CVT), an industry-leading meetings, events and hospitality technology provider, 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 value of approximately $4.6 billion. NOW HE'S GOING TO TRY SOMETHING REALLY BIG. Read More 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. Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. There are numerous opportunities to further invest in this business for the benefit of the team, our customers, and, very importantly, for the world around us. 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. Nikko's investment allowed for a major expansion of the firm and its investment activities. "Located in one of the most dynamic submarkets in Atlanta, our purchase of Ellington Midtown illustrates our ability to deploy capital in our high-conviction investment themes even during volatile times," Asim Hamid, senior . American Campus Communities . Blackstone Group has acquired 148 organizations. [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. List of Blackstone Group's 148 Acquisitions, including Cvent And R To receive email alerts from Blackstone, sign up below. - October 27, 1997", The Loewen Group and Blackstone Capital Partners form corporate venture to acquire Prime Succession, Loewen And Blackstone To Make Joint Purchase, Loewen Buys Big Cemetery, And Its Suitor Criticizes Deal, Red-Hot Revival in Real Estate; Overheating Is Feared With Surge in Vulture Investing, "Blackstone Group Creates Buyout Fund for $4 Billion", A.I.G. [37] In 1998, Blackstone sold a 7% interest in its management company to AIG, valuing Blackstone at $2.1 billion. Their most recent acquisition was Cvent on Mar 14, 2023. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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? The company was sold to Kohlberg Kravis Roberts in 2012. 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. QTS Realty Trust to Be Acquired by Blackstone Funds in $10 Billion [172] GSO was founded in 2005 by Bennett Goodman, Tripp Smith, and Doug Ostrover. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. KeyBanc Capital Markets Inc. also acted as a financial advisor. In 2019, a United Nations report found that Blackstone's massive purchasing of single-family homes after the financial crisis of 20072008 had "devastating consequences. With 1,201 units, Elara is one of the world's . [43], In July 2002, Blackstone completed fundraising for a $6.45 billion private equity fund, Blackstone Capital Partners IV, the largest private equity fund at that time. In total, The Blackstone Group has invested in 27 US states and 27 different countries. TRW's parent was acquired by Northrop Grumman, while Blackstone purchased its automotive parts business, a major supplier of automotive systems. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor. New York [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. 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). Dentons US LLP served as ACCs legal counsel. Portions of this site are directed only to persons in certain jurisdictions. In October 1991, Blackstone and Silverman added Days Inns of America for $250 million. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. Individual Investors & Financial Advisors, The transaction was announced on April 19, 2022. The Climate Technologies business is ideally positioned to help address global climate challenges, including contributing to energy efficiency and accelerating the global trend of electrification. The company was valued at US$1.2 billion. During the financial crisis of 20072008, Blackstone managed to close only a few transactions. As of June 30, 2022, American Campus Communities owned 166 student housing properties containing approximately 111,900 beds. Blackstone to acquire majority stake in R Systems for Rs 2,904 crore 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. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Blackstone Securities Partners L.P. ("BSP") is a broker-dealer whose purpose is to distribute Blackstone managed or affiliated products. 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. In January 2016, Blackstone Real Estate Partners VIII L.P. acquired BioMed Realty Trust for $8 billion. All quotes delayed a minimum of 15 minutes. Blackstone Funds Complete $13 Billion Acquisition of American Campus Medline to sell majority stake to Blackstone, Carlyle and - CNBC We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. The properties will complement its already significant holdings under Blackstone's subsidiary Pure Industrial, which it acquired and privatized in 2018 in a $3.8 billion transaction. 10154-0191 Blackstone Group 's most notable exits include BC Partners , NCR , and Paysafe. In the last 3 years, The Blackstone Group has exited 31 companies. The Blackstone Group is a global alternative investment management firm. Blackstone expands further into rental housing in the United States. ", 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. 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. [45], With a significant amount of capital in its new fund, Blackstone was one of a handful of private equity investors capable of completing large transactions in the adverse conditions of the early 2000s recession. Haynes and Republic Technologies International, both had problems and ultimately filed bankruptcy. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. The report also condemned Blackstone for "using its significant resources and political leverage to undermine domestic laws and policies that would in fact improve access to adequate housing." To view recent press releases,click here. In May 2011, Southern Cross, now independent, was almost bankrupt, jeopardizing 31,000 elderly residents in 750 care homes. [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). [31][32][33], In 1995, Blackstone sold its stake in BlackRock to PNC Financial Services for $250 million. For press inquiries, contact[emailprotected]. 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. Blackstone (NYSE: BX) is a private equity, investment banking, alternative asset management, and financial services corporation that specializes in investment strategies, as well as financial advisory services. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. 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. To receive email alerts from Blackstone, sign up below. Blackstone's offer . The Firm - Blackstone In July 2015, Blackstone acquired Excel Trust, a real estate investment trust, for around $2 billion. [4]:4556[5] The founders named their firm "Blackstone," using a cryptogram derived from the names of the two founders (Schwarzman and Peterson). Ross B. Shuster to Join as CEO of Standalone Climate Technologies 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. 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. To view recent press releases,click here. 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. Blackstone said it has received a $1 billion credit facility as part of the financing for the deal. [19] In June 1989, Blackstone acquired freight railroad operator, CNW Corporation. For office-specific contact information, please visitour offices page. Rocky Mountain states (CommNet Cellular) were among the most successful of the era, generating $1.5 billion of profits for Blackstone's funds. "Blackstone To Rationalize Single Manager Hedge Funds Businesses In Efficiency Move", The Blackstone Group to Acquire Prime Hospitality Corp, "Steve Bollenbach, hospitality executive, 1942-2016", Private-Equity Firm Sees Room for Value in Hotels, "Here's Why Wyndham Worldwide Just Bought La Quinta", Blackstone's Bid for Equity Office Prevails, Blackstone Alliance to Buy Chip Maker for $17.6 Billion, VNU Shareholders Reject $8.9 Bln Offer From KKR Group, VNU Agrees To Public Offer From Private Equity Group, "Blackstone Plans to Acquire Cendant Travel Services Unit", "Private-equity companies snap up United Biscuits in a 1.6bn deal", "Blackstone and PAI complete purchase of UB", "The Blackstone Group Has Completed Its Acquisition of a Controlling Interest in RGIS", "Biomet, Inc. to Be Acquired by Private Equity Consortium for $10.9 Billion or $44 Per Share in Cash", Blackstone to Buy Hilton Hotels for $26 Billion, Private Firms Use Closed-End Funds to Tap the Market, "KKR buys Alliant in 'pass the parcel' deal", Blackstone Founders Prepare to Count Their Billions, News Analysis Behind the Veil at Blackstone? [29] Silverman would ultimately leave Blackstone to serve as CEO of HFS, which would later become Cendant Corporation. For office-specific contact information, please visit our our offices page. Thomson Reuters announces closing of sale of Refinitiv to London Stock Blackstone Group on November 15, 2019, invested $167 million in the holding company of Future Lifestyle Fashions Ltd., Ryka Commercial Ventures Pvt. About BlackstoneBlackstone is the worlds largest alternative asset manager. Bain and Blackstone narrowly beat out, Travelport, the parent of the travel website Orbitz.com, was acquired from, In October 2006 Blackstone, together with. He also spent more than a decade with Johnson Controls, holding various roles across San Francisco, Los Angeles, Singapore, and Shanghai. For office-specific contact information, please visitour offices page. Blackstone paid $133 million for the property a discount to replacement cost, sources said and secured $65.8 million in Freddie Mac financing for the purchase. 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. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. These statements are based on the Companys (as defined below) and BREITs, as applicable, current expectations and assumptions regarding markets in which American Campus Communities, Inc. (the Company) and BREIT respectively operates, their respective operational strategies, anticipated events and trends, the economy, and other future conditions. In 2020, it purchased Triblio to expand its software-as-a-service platform and . Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B. In the last 3 years, The Blackstone Group has exited 31 companies. The transaction represented one of the first large club deals completed since the collapse of the Dot-com bubble. In 2012, Blackstone acquired a controlling interest in Utah-based Vivint, Inc., a home automation, security, and energy company. 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. In addition to historical information, this press release contains forward-looking statements under the applicable federal securities law. M&A research that takes seconds (not all afternoon), Better understand your customers and prospects. 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. [38] In 1999, Blackstone partnered, together with Apollo Management to provide capital for Allied Waste's acquisition of Browning-Ferris Industries. [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. www.blackstone.com. Otherwise, we will assume you're OK to continue. 6/3/2021. (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? The transaction, comprising 4 million square feet of warehouses, is one of the largest logistics portfolio transactions ever reported in Japan, and reinforces Blackstones commitment to []. American Campus Communities acquired by Blackstone Group . Ross B. Shuster to Join as CEO of Standalone Climate Technologies This is a special opportunity to shape the next chapter of an industry-leading business alongside the Blackstone, Emerson, and Climate Technologies teams, said Ross B. Shuster. 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. 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). [4]:221223, In 2007, Blackstone acquired Alliant Insurance Services, an insurance brokerage firm. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. [4]:145146, Blackstone's investments in telecommunications businessesfour cable TV systems in rural areas (TW Fanch 1 and 2, Bresnan Communications and Intermedia Partners IV) and a cell phone operator in the [9] Prominent investment banker Roger C. Altman, another Lehman veteran, left his position as a managing director of Lehman Brothers to join Peterson and Schwarzman at Blackstone in 1987, but left in 1992 to join the Clinton Administration as Deputy Treasury Secretary and later founded top advisory investment bank Evercore Partners in 1995. It focuses on private equity, real estate, hedge fund solutions (BAAM), credit businesses, closed-end mutual funds, and advisory and . In October 2021, the Blackstone Group acquired a majority stake of Spanx, Inc. Blackstone is one of the world's leading investment firms. At the end of 2002, Blackstone, together with Thomas H. Lee Partners and Bain Capital, acquired Houghton Mifflin Company for $1.28 billion. Brown: independent director, This page was last edited on 29 April 2023, at 20:50. Our perpetual capital will enable ACC to invest in its existing assets and create much-needed new housing in university markets.. Talent Acquisition and Executive Search Blackstone+Cullen [56] La Quinta Inns & Suites was spun out for IPO in 2014 and was later acquired by Wyndham Hotels & Resorts[57]. [17][18], The firm advised CBS Corporation on its 1988 sale of CBS Records to Sony to form what would become Sony Music Entertainment. [25], In 1991, Blackstone created its Europe unit[26][27] and launched its real estate investment business with the acquisition of a series of hotel businesses under the leadership of Henry Silverman. This is a critical moment for both the business and the industry as we look to bring innovative, efficient, and sustainable heating, cooling, and refrigeration products to customers amidst broad demand for carbon reduction solutions.