Blackstone Inc Stock Price, News & Analysis

Blackstone has successfully completed the acquisition of Bluerock Residential Growth REIT at $24.25 per share, totaling $3.6 billion in cash. This acquisition aligns with Blackstone's strategy to expand its real estate portfolio. Additionally, Bluerock has spun off its single-family rental business into an externally managed REIT, Bluerock Homes Trust, which started trading on the NYSE American. The transaction was initially announced on December 20, 2021, and signifies strategic growth for both firms in the competitive real estate market.

Blackstone (NYSE: BX) has announced a commitment to hire 2,000 refugees across its global portfolio by the end of 2025, including 1,500 in the U.S..

This initiative builds on its Veterans Hiring Initiative, which has successfully hired over 100,000 U.S. veterans and their families. So far, nearly 500 refugees have been hired from regions like Afghanistan and Ukraine. Blackstone aims to collaborate with refugee resettlement organizations to ensure successful integration of refugee hires.

Blackstone Credit announced increased distributions for its funds, with the Blackstone Private Credit Fund (BCRED) raising its monthly distribution to $0.19 per share, representing a 9.1% annualized yield based on a July NAV of $25.02. The Blackstone Secured Lending Fund (BXSL) increased its quarterly distribution to $0.60 per share, yielding 9.3% based on a second-quarter NAV of $25.89. These changes reflect strong earnings, the quality of portfolios, and positive effects from rising interest rates, with nearly 100% of the portfolios in floating rate debt.

Blackstone (NYSE: BX) is expanding its Corporate Private Equity business in North America with a new team in San Francisco. Senior Managing Director Sachin Bavishi will lead this initiative, enhancing Blackstone's presence in the technology sector. Bavishi, who has been integral to many significant investments since joining Blackstone in 2013, aims to drive innovation within the region's technology community. The firm currently employs over 70 staff in San Francisco across various business units, reinforcing its commitment to partner with market-leading companies.

RxDefine, a healthcare engagement platform, has appointed Pujan Kasaju as SVP of Finance and Operations, marking a significant step in the company’s growth strategy. Kasaju, who has a strong background in strategic finance from his tenure at Blackstone (BX), will oversee finance, accounting, and administrative functions. His experience in high-growth technology startups complements RxDefine’s mission to enhance the healthcare experience for consumers and healthcare providers. The team believes Kasaju's leadership will be pivotal as the company navigates its next growth phase.

April Housing, a portfolio company of Blackstone (NYSE: BX), has resolved litigation by donating $350,000 to the Presbyterian Villages of Michigan Foundation. This donation will support the redevelopment of the Oakland Woods I Community, which serves low-income seniors. Following the agreement, the Presbyterian Villages of Michigan will own two senior housing communities in Michigan, enhancing affordable housing access. The partnership aims to preserve and develop affordable housing, reflecting a commitment from both organizations towards community improvement.

Blackstone (NYSE: BX) has appointed Adam White as a Senior Advisor, focusing on the digital asset ecosystem. White, with extensive experience from Bakkt and Coinbase, will guide Blackstone Growth (BXG) in identifying opportunities and challenges in blockchain technology. This announcement aligns with Blackstone's strategy to enhance its digital investments, highlighted by its recent stake in Chainalysis, a leader in blockchain compliance and data analysis. The appointment aims to leverage White's expertise for strategic growth in a rapidly evolving market.