[23][24] Additionally, Blackstone and Silverman acquired a 65% interest in Prime Motor Inn's Ramada and Howard Johnson franchises for $140 million, creating Hospitality Franchise Systems as a holding company. 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. Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. The Firms most common exit type is trade sale (39%). 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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. For information on our privacy practices see our Privacy Policy. For office-specific contact information, please visit our our offices page. Blackstone's partners in the acquisition were Silver Lake Partners, Bain Capital, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and TPG Capital. 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. Bain and Blackstone narrowly beat out, Travelport, the parent of the travel website Orbitz.com, was acquired from, In October 2006 Blackstone, together with. [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 On July 15, 2019, Blackstone announced its plans to acquire Vungle Inc., a leading mobile performance marketing platform. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. We serve institutional and individual investors by building strong businesses that deliver lasting value. After two years of providing strictly advisory services, Blackstone decided to pursue a merchant banking model after its founders determined that many situations required an investment partner rather than just an advisor. Switchboard: +1 (212) 583-5000. [170] The move caused investor consternation and limited the ability to attract new capital for BRIET. In July 2020, Blackstone invested US$200m in the Swedish oat milk brand, In August 2020, Blackstone announced that it will buy a majority stake in. 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. ", Sorkin, Andrew Ross and de la Merced, Michael J. 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. About BlackstoneBlackstone is the worlds largest alternative asset manager. 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. A live webcast of the presentation will be available on the Shareholders section of Blackstones []. As of June 30, 2022, American Campus Communities owned 166 student housing properties containing approximately 111,900 beds. 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. Join Mergr to view The Blackstone Groups full profile and discover more In January 2016, Blackstone Real Estate Partners VIII L.P. acquired BioMed Realty Trust for $8 billion. Financial Advisors, visit our dedicated website to learn how you can partner with Blackstone. BREIT allowed $1.3 billion to be withdrawn, or about 29% of the amount requested. Blackstone Group . 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 . We do this by using extraordinary people and flexible capital to help companies solve problems. [55] Extended Stay Hotels was sold to The Lightstone Group in July 2007 and Prime Hospitality's Wellesley Inns were folded into La Quinta. 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. Other notable investments that Blackstone completed in 2008 and 2009 included AlliedBarton, Performance Food Group,[79][80] Apria Healthcare and CMS Computers. Blackstone's partners in the acquisition were Silver Lake Partners, Bain Capital, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and TPG Capital. 345 Park Avenue, Blackstone Inc. agreed to buy student-housing owner American Campus Communities Inc. in a deal valuing the company at about $12.8 billion, including debt, a bet that rents will continue to rise as . Blackstone acquired Prime Hospitality[54] and Extended Stay America in 2004. 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. [163], The purchase and subsequent IPO of Southern Cross led to controversy in the UK. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. 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 Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. For press inquiries, contact [emailprotected]. 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. Complete information about investing in shares of BREIT is available in the prospectus. In March 2018, Blackstone's Strategic Capital Holdings Fund invested in, In March 2018, the company's Strategic Capital Holdings Fund announced an investment in, In August 2018, PSAV was able to merge with, In September 2018, the company acquires control of. Blackstone (NYSE: BX) announced the final close of its latest global real estate fund, Blackstone Real Estate Partners X (BREP X). In July 2015, Blackstone acquired Excel Trust, a real estate investment trust, for around $2 billion. 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. [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. The company restructured its debt in 2010. [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. 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. For press inquiries, contact[emailprotected]. [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. See here for a complete list of exchanges and delays. 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 Blackstone was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman with $400,000 in seed capital. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. 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 By submitting this request, you consent to receive email from Blackstone. 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 Emerson's (NYSE: EMR) Climate Technologies business, Ross B. Shuster will become Chief Executive Officer of the new standalone business. [42], In October 2000, Blackstone acquired the mortgage for 7 World Trade Center from the Teachers Insurance and Annuity Association. 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 Switchboard:+1 (212) 583-5000. In April 2014, Blackstone's charitable arm, the Blackstone Charitable Foundation, donated $4 million to create the Blackstone Entrepreneurs Network in Colorado. [56] La Quinta Inns & Suites was spun out for IPO in 2014 and was later acquired by Wyndham Hotels & Resorts[57]. Blackstone had been an original investor in GSO's funds. 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 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 to Acquire International Data Group, a Leading Market Intelligence and Data Platform for the Technology Industry. This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. [21], In 1990, Blackstone launched its hedge funds business, initially intended to manage investments for Blackstone senior management. The program encourages increased collaboration among local business leaders with the goal of retaining high-growth companies in the state. This transaction created significant value for our shareholders and represents the culmination of our teams passionate and dedicated service to our student residents and university partners., Jacob Werner, Co-Head of Americas Acquisitions for Blackstone Real Estate, said, We are pleased to complete this transaction and welcome the American Campus Communities team to Blackstone.