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. 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? [22] That same year, Blackstone formed a partnership with J. O. Hambro Magan in the UK and Indosuez in France. 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. In May 2011, Southern Cross, now independent, was almost bankrupt, jeopardizing 31,000 elderly residents in 750 care homes. Do Too Many Cooks Spoil the Takeover Deal? The transaction was announced on April 19, 2022. 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. He has a unique combination of public company HVACR experience from his years at United Technologies / Carrier and Johnson Controls, as well as private company CEO experience at Howden, a leading global provider of mission critical air and gas handling products and services. In May 2014, Blackstone Group acquired the, In August 2014, Blackstone Energy Partners acquired, In January 2015, Blackstone Real Estate Partners VI announced it would sell a. 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. 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. Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B. www.blackstone.com. Between 1995 and 2014, PNC reported $12 billion in pretax revenues and capital gains from BlackRock, Schwarzman later described the selling of BlackRock as his worst business decision ever. He also serves on the firm's executive and management committees, and its board of directors. [4]:4556 Blackstone finalized fundraising for its first private equity fund in the aftermath of the October 1987 stock market crash. 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. [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. This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. HE'S ALSO THE CEO WHOSE STOCK HAS BLOWN AWAY INTEL AND MICROSOFT SO FAR IN THE 1990S. Legence acquired by Blackstone Group . 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 April 2022, Blackstone agreed to acquire the Austin-based, In April 2022, Blackstone announced that it would acquire, Reginald ("Reg") J. Blackstone provides $1.2-billion in financing to Westland Insurance Group to fund acquisitions - The Globe and Mail Blackstone provides $1.2-billion in financing to Westland Insurance Group. 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. Blackstone acquires ACC in $12.8bn transaction April 21, 2022 in Private Equity BY Fraser Tennant In a transaction valued at $12.8bn, global investment business Blackstone Inc. is to acquire American Campus Communities (ACC), the largest developer, owner and manager of high-quality student housing communities in the US. In March 2007, RGIS announced that Blackstone Group purchased a controlling interest in the company, the terms of the transaction were not disclosed. [171], In 1990, Blackstone created a fund of hedge funds business to manage internal assets for Blackstone and its senior managers. [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. During the financial crisis of 20072008, Blackstone managed to close only a few transactions. This business evolved into Blackstone's marketable alternative asset management segment, which was opened to institutional investors. Blackstone is a member of the Real Estate Roundtable, a special interest group which spends millions on lobbying and political donations every year. By submitting this request, you consent to receive email from Blackstone. Shuster Brings More Than 25 Years of Leadership Experience, Growing and Transforming Global, Sustainability-Focused BusinessesBlackstone Investment to Help Power Next Phase of Growth for the Standalone Climate Technologies Business Products, Which Play Key Role in Energy Efficient Heating and Cooling Solutions. In 2015, the digital assets were sold to IBM for $2 billion. A rout in tech stocks last year shrank company valuations, making them enticing targets for private equity suitors. (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? Their most recent diversity investment was on Nov 9, 2021, when Renaissance Learning raised Blackstone Group has had 62 exits. 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. (212) 583-5000 Otherwise, we will assume you're OK to continue. Including its owned and third-party managed properties, ACCs total managed portfolio consisted of 204 properties with approximately 143,100 beds. NEW YORK APRIL 24, 2023 Blackstone (NYSE: BX) today 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. 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. [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 "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". Read More By selecting the relevant option, you certify that it accurately reflects your residency. 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. It focuses on private equity, real estate, hedge fund solutions (BAAM), credit businesses, closed-end mutual funds, and advisory and . In October 1991, Blackstone and Silverman added Days Inns of America for $250 million. NOW HE'S GOING TO TRY SOMETHING REALLY BIG. 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. The GSO team had previously managed the leveraged finance businesses at Donaldson, Lufkin & Jenrette and later Credit Suisse First Boston, after they acquired DLJ. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. HE'S THE KING OF FRANCHISING, FOR ONE THING. [4]:4556[5] The founders named their firm "Blackstone," using a cryptogram derived from the names of the two founders (Schwarzman and Peterson). Blackstone Securities Partners L.P. ("BSP") is a broker-dealer whose purpose is to distribute Blackstone managed or affiliated products. They acquired Cvent for $4.6B. He also spent more than a decade with Johnson Controls, holding various roles across San Francisco, Los Angeles, Singapore, and Shanghai. Blackstone Group's Blackstone Real Estate Income Trust (BREIT) has reached an agreement for the acquisition of Home Partners of America (HPA). Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. - 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. Blackstone Group elevates India PE head Amit Dixit to head of Asia PE Under Dixit, Blackstone did many big ticket deals in India, including a deal to acquire Piramal Glass from Ajay Piramal group at an enterprise valuation of Rs 7,500 cr Raghavendra Kamath Mumbai Premium Amit Dixit 2 min read Last Updated : May 04 2021 | 9:38 PM IST Exclusive news, data and analytics for financial market professionals, Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli, First Republic collapse sparks regional bank shares sell-off, U.S. Treasury: 'Decisive actions' taken in response to bank failures, European e-scooter operator TIER Mobility explores merger - Sky News, JPMorgan wins government auction to buy seized First Republic Bank, Factbox: U.S. debt ceiling: A 'clean' increase is not the rule, Column: Coinbase, crypto industry hope new Supreme Court doctrine is silver bullet, US may run short of cash after June 1 without debt limit hike - Treasury, MGM Resorts beats Wall Street estimates for first-quarter revenue, QUOTE BOX How asset managers see the investment outlook at Milken. [28] In 1993, Hospitality Franchise Systems acquired Super 8 Motels for $125 million. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. 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. Blackstone's offer price of $8.50 per share, gives Cvent an equity value of $4.15 billion and represents a premium of about 29% from Jan. 30, a day before media reports of a potential deal surfaced. In August 2020, Blackstone acquired Takeda Consumer Healthcare for $2.3 billion. [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. 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. After a resistance of residents and questions regarding the legality of the purchase agreement, Blackstone withdrew from it in October 2019. [citation needed] In 2020 they acquired Ancestry.com. [42], In October 2000, Blackstone acquired the mortgage for 7 World Trade Center from the Teachers Insurance and Annuity Association. Ross brings the necessary skills and experience scaling global, sustainability-focused businesses to capitalize on this environment. Following the acquisition, Blackstone merged GSO's operations with its existing debt investment operations. Blackstone will pay US$6.6 billion for 90% of shares outstanding. On February 14, 2022 Crown Resorts accepted Blackstone's takeover offer. Blackstone Group has acquired 148 organizations. BSP provides services to its Blackstone affiliates, not to investors in its funds, strategies or other products. Blackstone, Kohlberg Kravis Roberts, TPG Capital and Goldman Sachs Capital Partners acquired Biomet, a medical device manufacturer for $10.9 billion. 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. Austin, Texas and New York August 9, 2022 Blackstone (NYSE: BX) today announced that Blackstone Core+ perpetual capital vehicles, primarily comprising Blackstone Real Estate Income Trust, Inc. (BREIT) and Blackstone Property Partners (BPP), have completed the previously announced acquisition of all of the outstanding shares of common stock of American Campus Communities, Inc. (ACC), the largest developer, owner and manager of high-quality student housing communities in the United States, for approximately $12.8 billion, including the assumption of debt. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Individual Investors & Financial Advisors. 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. NEW YORK and OVERLAND PARK, Kan. - August 31, 2021 - Blackstone (NYSE: BX) and QTS Realty Trust (NYSE: QTS) today announced that affiliates of Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc., and Blackstone Property Partners have completed their previously announced acquisition of QTS Realty Trust for approximately To view recent press releases, click here. 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. 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. [167] The buildings sold in San Francisco and Silicon Valley included 26 office buildings and two development parcels. To view recent press releases,click here. For press inquiries, contact[emailprotected]. Legence . [4]:148155, Blackstone Real Estate Advisers, its real estate affiliate, bought the Watergate complex in Washington D.C. in July 1998 for $39 million[41] and sold it to Monument Reality in August 2004. The real estate group will consider both equity and debt investments. Apr 19, 2022 . [4]:221223, In 2007, Blackstone acquired Alliant Insurance Services, an insurance brokerage firm. Blackstone to Acquire International Data Group, a Leading Market Intelligence and Data Platform for the Technology Industry. The deal between Blackstone and Advent International-backed ASK Group was signed on Tuesday, according to these people. [19] In June 1989, Blackstone acquired freight railroad operator, CNW Corporation. [38] In 1999, Blackstone partnered, together with Apollo Management to provide capital for Allied Waste's acquisition of Browning-Ferris Industries. Blackstone will host its first quarter 2023 investor conference call via public webcast on April 20, 2023 at 9:00 a.m. Blackstones real estate business was founded in 1991 and has US $320 billion of investor capital under management. New York In August 2021, the merger of two Blackstone portfolio companies, Vungle and Liftoff, was announced. 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. We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them. [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. Haynes and Republic Technologies International, both had problems and ultimately filed bankruptcy. [56] La Quinta Inns & Suites was spun out for IPO in 2014 and was later acquired by Wyndham Hotels & Resorts[57]. [49], Blackstone made a significant investment in Financial Guaranty Insurance Company (FGIC), a monoline bond insurer alongside PMI Group, The Cypress Group and CIVC Partners. Blackstone (NYSE:BX) announced that it will host its first quarter 2023 investor conference call via public webcast on April 20, 2023 at 9:00 a.m. FGIC incurred heavy losses, along with other bond insurers in the 2008 credit crisis. 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. In total, The Blackstone Group has invested in 27 US states and 27 different countries. 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. For press inquiries, contact [emailprotected]. An investment in BREIT involves risks. For office-specific contact information, please visit our our offices page. Melbourne, June 24, 2022 - Blackstone (NYSE: BX) today announced that real estate funds and private equity funds managed by Blackstone ("Blackstone") have completed the acquisition of Crown Resorts Limited ("Crown") in the largest transaction to date for the firm in Asia Pacific.

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