Welcome to our dedicated page for Blackstone news (Ticker: BX), a resource for investors and traders seeking the latest updates and insights on Blackstone stock.
Blackstone Inc. (NYSE: BX) generates frequent news coverage as the world’s largest alternative asset manager, and its announcements highlight activity across real estate, private equity, credit, infrastructure and energy-related investments. This news page aggregates updates drawn from Blackstone’s own releases and regulatory disclosures so readers can follow how the firm deploys capital and manages its portfolio.
Recent items illustrate the breadth of Blackstone’s activity. Funds managed by Blackstone’s private equity strategy for individual investors became the sole institutional investor in AIR Control Concepts, a commercial HVAC, electrical and controls platform operating across numerous U.S. states and Canada. Blackstone Energy Transition Partners and other Blackstone funds acquired Alliance Technical Group, an environmental testing, monitoring and compliance services provider, and announced a majority ownership position in a combined MacLean Power Systems and Power Grid Components platform serving the electrical grid.
Other news features include Blackstone Energy Transition Partners’ investment in Wolf Summit Energy, a combined-cycle natural gas power generation facility in West Virginia, as well as a strategic partnership with Phoenix Financial focused on corporate, real estate and asset-based credit. Blackstone Credit & Insurance has also announced a forward flow origination partnership with Harvest Commercial Capital to acquire small business loans secured by first lien mortgages on owner-occupied commercial real estate.
In addition, Blackstone issues updates on capital markets activity, such as senior notes offerings by an indirect financing subsidiary, and appearances at financial conferences. Investors and observers can use this page to review earnings-related releases, financing transactions, major investments, partnerships and leadership appointments connected to Blackstone’s global alternative asset management business.
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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.
Blackstone has successfully closed its latest global real estate fund, Blackstone Real Estate Partners X (BREP X), accumulating $30.4 billion in total capital commitments. This represents the largest real estate or private equity drawdown fund ever raised, contributing to a total of $50 billion across Blackstone's three opportunistic strategies. With a solid track record, Blackstone has achieved a 16% net IRR on over $100 billion in BREP global funds in over 30 years. To adapt to market changes, Blackstone has shifted its investment focus, with about 80% in logistics, rental housing, hospitality, lab office, and data centers. Blackstone's leadership acknowledges that the current market volatility presents unique investment opportunities.