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Blackstone Inc. manages alternative investment strategies across private equity, real estate and real assets, credit and insurance, and other alternatives for institutional, insurance and individual investors. News about BX commonly covers operating and financial results, realization activity, dividend announcements, fund and platform launches, and investments made through Blackstone-affiliated strategies.
Recurring developments include Blackstone Real Estate Debt Strategies lending activity, Blackstone Life Sciences financings, energy-transition and power-generation investments, data-center and digital-infrastructure initiatives, and partnerships tied to enterprise technology and AI deployment. Coverage also reflects capital formation, portfolio-company activity and updates from public vehicles connected to Blackstone platforms.
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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.
Blackstone (NYSE: BX), the largest alternative asset manager globally, announced the opening of a new office in Frankfurt, Germany, spanning 1,300 square meters in the OMNITURM. This office will support Blackstone’s private equity, real estate, credit, and private wealth solutions businesses across Europe. With over €17 billion invested in Germany and approximately €7 billion in German real estate, Blackstone highlights its continued commitment to the German market. Current notable investments include Leica and Schenck Process, alongside significant financing provided in the DACH region.
Altus Power, Inc. (NYSE: AMPS) has partnered with Blackstone (NYSE: BX) and CBRE (NYSE: CBRE) to enhance its Community Solar Partnership Program, allowing employees of these companies to benefit from clean electricity at a discount. The program, already operational in New York City and Westchester County, NY, provides credits on electricity bills from Altus Power’s solar generation. Future expansions are planned in Hawaii, Maryland, and New Jersey, with potential growth in Minnesota, Massachusetts, and Illinois. Altus Power aims to attract more employers to this program as a valuable employee benefit.
Blackstone (NYSE:BX) announced that Chairman and CEO Stephen Schwarzman will present at the Bank of America Securities 2023 Financial Services Conference on February 16, 2023, at 12:30 PM ET. Investors can watch the live webcast on Blackstone’s website. A replay will also be available afterward. Blackstone is the largest alternative asset manager globally, boasting $975 billion in assets under management across various investment vehicles, including private equity and real estate. The company aims to create significant economic impact and long-term value for its investors and communities.
On January 3, 2023, UC Investments and Blackstone announced an expansion of their strategic venture, with UC Investments set to acquire an additional $500 million in BREIT Class I common shares. This follows their previous $4 billion investment, raising the total to $4.5 billion. The new investment is expected to close on March 1, 2023, maintaining the same terms as the initial investment, including a six-year minimum hold period. Additionally, Blackstone will contribute $125 million from its holdings into the venture.
Resolution Life has announced that Nippon Life Insurance Company will invest an additional $1 billion, raising its total investment in Resolution Life to $1.65 billion. This move follows a strategic partnership with Blackstone, which has become the investment manager for Resolution Life. The company aims to raise $3 billion in new equity capital, expanding its capital base to approximately $8 billion. This enhanced capital is expected to support Resolution Life's growth in the global life and annuity consolidation market, managing over $80 billion in reserves and 3 million policies. The investment is subject to regulatory approvals, expected in the second half of 2023.