Blackstone Inc Stock Price, News & Analysis

Blackstone (NYSE: BX) announced plans to offer senior notes through its subsidiary, Blackstone Holdings Finance Co. L.L.C. The notes will be guaranteed by Blackstone and its indirect subsidiaries. Proceeds from the offering will be used for general corporate purposes. The notes are intended for sale to qualified institutional buyers under Rule 144A in the U.S. and outside the U.S. under Regulation S. These notes have not been registered under the Securities Act of 1933 and cannot be sold without registration or an exemption.

PTC Therapeutics has entered a strategic financing collaboration with Blackstone, securing up to $500 million in funding to enhance its product pipeline and business development. This includes $350 million in low-cost capital at the close. The funds will help accelerate PTC's mission to deliver transformative medicines, with a goal of launching one therapy every 2-3 years. Blackstone's investment will be collateralized by PTC's existing products, including Translarna™ and Upstaza®. The collaboration aims to optimize capital structure and support new medicines.

Blackstone (NYSE: BX) has announced a partnership with Dominium to develop the Aviara Flats community in Phoenix, Arizona, contributing $48 million of tax credit equity for the creation of 372 affordable housing units. The project targets households earning at or below 60% of the area median income and will feature amenities such as a gym and playground. This partnership signifies a key step in Blackstone's commitment to expanding affordable housing across the U.S., with completion expected in 2024.

DNAnexus announced the appointment of Jeff Margolis to its Board of Directors. Margolis, a veteran in healthcare technology, has extensive experience in guiding companies from startup to leadership. His role follows DNAnexus securing $200 million in funding led by Blackstone (NYSE:BX). Margolis aims to leverage his expertise to enhance the company's platform for biomedical research, enabling significant advancements in multi-omic data analytics. CEO Richard Daly expressed confidence in Margolis' ability to drive global adoption of their innovative solutions.

Blackstone (NYSE: BX) and Resolution Life have formed a strategic partnership to enhance growth in the global life and annuity market. The collaboration will manage up to $25 billion in private credit and real estate assets, potentially increasing to over $60 billion within six years. They aim to raise $3 billion in new equity, including a $500 million investment from Blackstone, enhancing Resolution Life's capital base to over $8 billion. This partnership will provide significant strategic advantages and is expected to close in the second half of 2023.

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.