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.
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.
Blackstone has successfully completed the acquisition of American Campus Communities (ACC) for approximately $12.8 billion, which includes debt assumption. This acquisition positions Blackstone to leverage ACC’s expertise in student housing, enhancing its portfolio. ACC, a leading developer and manager of student housing in the U.S., operates 166 properties with around 111,900 beds. The deal is expected to enable further investments and growth in high-demand student housing markets.
Atlantic Power Transmission LLC (APT), a Blackstone portfolio company, has partnered with Morrison Energy to enhance New Jersey's offshore wind energy capabilities. This initiative follows APT's $50 million investment aimed at workforce development in the state, focusing on local fabrication of 5,000-ton substation foundation jackets. The project is expected to generate $1.5 billion in economic benefits and create 1,000 direct jobs annually during its construction phase, positioning New Jersey as a leader in the offshore wind transition.
Blackstone has completed its acquisition of PS Business Parks, Inc. for $187.50 per share, amounting to approximately $7.6 billion in an all-cash deal, including expenses. The transaction, first announced on April 25, 2022, positions Blackstone as a leading player in commercial real estate, enhancing its extensive portfolio of multi-tenant industrial properties and suburban office spaces. PSB manages 93 sites with 4,800 tenants and 27 million square feet of space, strengthening Blackstone's foothold in key coastal markets.
Blackstone Private Credit Fund (BCRED) has announced a special distribution of $0.07 per share, an increase from the previously declared $0.05 per share, due to strong earnings and the benefits of rising interest rates. This distribution is scheduled for payment on or about September 1, 2022, with a record date of August 21, 2022. BCRED, as part of Blackstone's $74 billion direct lending platform, focuses on providing income to investors through private credit.
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