Blackstone Inc Stock Price, News & Analysis

Blackstone (NYSE: BX) has announced the acquisition of a majority stake in Emerson’s (NYSE: EMR) Climate Technologies business, with Ross B. Shuster appointed as CEO of the new standalone entity. The deal is expected to close in the first half of 2023 and encompasses the Copeland compressor business, generating around $5.0 billion in fiscal 2022 sales. This acquisition positions the Climate Technologies business to focus on energy-efficient heating and cooling solutions amid rising demand for sustainable products. Shuster, a seasoned executive with over 25 years of experience, aims to spearhead growth and innovation while addressing global climate challenges. Blackstone emphasizes its commitment to building a leader in the climate technologies space, enhancing carbon reduction efforts and sustainability initiatives.

Blackstone (NYSE: BX) is expanding its partnership with Dominium to support the development of Casa Azure, a new affordable housing project in Phoenix, Arizona. The investment includes an additional $31 million in tax credit equity, increasing the total investment in affordable housing in Maricopa County to $79 million for 568 new units. Casa Azure will provide 196 age-restricted units aimed at seniors earning at or below 60% of the area median income, featuring amenities like a pool and fitness center. Blackstone's commitment reflects its strategy to address the affordable housing crisis in the U.S.