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. 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.
Blackstone (NYSE: BX) has launched April Housing, a new portfolio company focused on affordable housing solutions in the U.S. The initiative aims to preserve over 90,000 housing units acquired by Blackstone Real Estate Income Trust (BREIT). With a long-term commitment to affordability, properties will comply with the Low Income Housing Tax Credit program, which ensures rent restrictions for about 20 years. Alice Carr has been appointed as CEO, bringing 25 years of experience in affordable housing.
Blackstone (NYSE: BX) has appointed Sara Clemens, former Chief Operating Officer at Twitch and Pandora, as a Senior Advisor. With over 25 years of experience in high-growth companies, she will focus on Blackstone Growth (BXG), the firm's growth equity investing platform. Vishal Amin, Managing Director at BXG, highlighted her invaluable experience in consumer technology. Clemens expressed enthusiasm for contributing to Blackstone's portfolio of internet companies. Blackstone manages $881 billion in assets across various investment vehicles.
Preferred Apartment Communities (NYSE: APTS) has entered an all-cash agreement with Blackstone Real Estate Income Trust (BREIT) to acquire all outstanding shares for $25.00 each, totaling approximately $5.8 billion. This deal includes 44 multifamily communities and 54 grocery-anchored retail assets primarily in key Sun Belt markets. The transaction, presenting a 39% premium over the recent stock price, aims for completion in Q2 2022, pending stockholder and regulatory approvals. The Board unanimously supports the move, seen as a strong outcome for shareholders.
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Blackstone (NYSE: BX) has announced the recapitalization of Mileway, its last mile logistics company, valued at €21 billion, marking the largest private real estate transaction ever. Existing investors will have the option to maintain or increase their holdings or exit for cash as part of a 'go-shop' process. Over the past six years, Mileway has grown to become Europe's largest last mile logistics portfolio with 1,700 assets across 10 countries, demonstrating strong investor confidence in the logistics sector.
Snoop Dogg has successfully acquired the iconic Death Row Records brand from MNRK Music Group, which is backed by Blackstone. The terms of the deal remain undisclosed. Snoop Dogg expressed excitement about reclaiming ownership of the label that played a crucial role in his career, emphasizing its untapped potential. Blackstone's David Kestnbaum highlighted their commitment to supporting artists and creators, expressing confidence in Snoop's ability to lead the brand into a prosperous future. This acquisition marks a significant moment in the music industry, especially as Snoop looks to expand the legacy of Death Row Records.
Blackstone Inc. (NYSE: BX) announced the appointment of Kurt Summers, Jr. as Head of Public-Private Partnerships in its Infrastructure business. Summers brings over 20 years of experience from both public and private sectors, focusing on investment strategies that align with local infrastructure goals and advance ESG efforts. His prior role as City Treasurer of Chicago saw him integrate ESG in investment decisions, achieving a carbon-neutral portfolio. Blackstone aims to enhance partnerships with local governments under his leadership.
Blackstone has launched its Sustainable Resources Platform to invest in renewable energy and support the energy transition. The firm plans to allocate an estimated $100 billion over the next decade across its businesses, building on over $15 billion committed since 2019. This initiative seeks to address investment needs and challenges in the energy transition sector, leveraging Blackstone's expertise and resources. The platform aims to support various sectors, including residential solar, decarbonized transportation, and green finance.
Blackstone (NYSE: BX) has acquired a 35% stake in Phoenix Tower International (PTI) from Manulife Investment Management. This strategic investment enables PTI to accelerate its growth in wireless infrastructure, operating over 14,000 towers across 18 countries, primarily in the Americas and Europe. Blackstone's focus on digital infrastructure has intensified due to COVID-19, showcasing the significant growth potential in this sector. This partnership aims to leverage Blackstone's resources to enhance PTI's position in high-demand markets.
Home Partners of America launched the Choice Lease program on January 14, 2022, to combat the affordable housing crisis for low-to-moderate-income families. This innovative program provides access to below-market rental rates and paths to homeownership without government subsidies. Targeting households with incomes under 80% of area median income, the initiative aims to deploy at least $1 billion over two years. Residents can enjoy rental rates around 10% cheaper than the market, with the option to purchase homes at lower-than-market prices, significantly aiding accessibility in today's rising housing market.