Blackstone Inc Stock Price, News & Analysis

Blackstone (NYSE: BX) has priced an offering of $650 million of 1.625% senior notes due 2028, $800 million of 2.000% senior notes due 2032, and $550 million of 2.850% senior notes due 2051. These notes will be guaranteed by The Blackstone Group and its subsidiaries. The proceeds will be used for general corporate purposes, including a portion of the funding for Blackstone's acquisition of a 9.9% equity interest in American International Group’s life and retirement business. The offering targets qualified institutional buyers under Regulation S.

Hudson Pacific Properties and Blackstone announced the development of Sunset Glenoaks Studios in Sun Valley, California. The facility will be the first large-scale, purpose-built studio in the Los Angeles area in over 20 years, representing an investment of $170-190 million. Covering 240,000 square feet, it will feature seven sound stages and support spaces, targeting completion in Q3 2023. The project emphasizes sustainability, with plans for LEED certification and carbon neutrality. This expansion aligns with rising demand for studio space among content creators in the region.

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 The Blackstone Group Inc. and its subsidiaries. Proceeds from this offering will support general corporate purposes, including funding a portion of the acquisition price for a 9.9% equity stake in American International Group, Inc.’s life and retirement business. The offering is aimed at qualified institutional buyers under Rule 144A and Regulation S.

Blackstone (NYSE:BX) has appointed Stevi Petrelli as the new Head of Blackstone Innovations Investments (BXI Investments). In this role, she will oversee investments in early-stage PropTech, Enterprise Tech, Cybersecurity, and FinTech companies. Petrelli joins from Goldman Sachs, bringing extensive experience in strategic investments. The firm aims to leverage its vast network to support these early-stage companies. Previous BXI Investments include notable firms like iCapital and Coupa. Leadership highlights anticipated growth in innovative sectors under Petrelli's guidance.

GTCR LLC and Blackstone (NYSE:BX) have announced a strategic partnership where Blackstone’s GP Stakes business will acquire a minority stake in GTCR. This collaboration aims to enhance GTCR's capabilities in serving its limited partners and growing its investment portfolio. GTCR, founded in 1980, focuses on growth investments across multiple industries and has a history of investing over $20 billion in over 250 companies. The partnership will allow access to Blackstone’s resources, including its extensive purchasing program and expertise in various operational areas.

Blackstone (NYSE:BX) announced the appointment of Brian X. Tierney as Senior Managing Director and Global Head of Infrastructure Portfolio Operations and Asset Management. With 23 years at American Electric Power (AEP), where he served as CFO and led strategy, Tierney will collaborate with portfolio company CEOs to enhance value creation. Steve Bolze, the former head, will transition to an Executive Advisor role. Tierney aims to apply his extensive operational and financial expertise to drive growth in Blackstone's infrastructure sector.

On July 19, 2021, Blackstone (NYSE: BX) announced a definitive agreement to acquire a controlling stake in Simplilearn Solutions, a premier online learning platform based in India. Simplilearn, founded in 2010, provides digital skills training to professionals globally. It is profitable and offers over 100 programs in various tech fields. This partnership aims to expand Simplilearn's growth through Blackstone's extensive resources and global network. Blackstone's entry into Asia's consumer technology sector emphasizes its commitment to the education technology market.

American International Group (AIG) and Blackstone have announced a definitive agreement for Blackstone to acquire a 9.9% equity stake in AIG's Life & Retirement business for $2.2 billion. AIG will also establish a long-term strategic asset management relationship with Blackstone to manage $50 billion of their investment portfolio, growing to $92.5 billion. Additionally, Blackstone Real Estate Income Trust will acquire AIG's U.S. affordable housing portfolio for approximately $5.1 billion. Expected transaction closures are set for Q3 and Q4 of 2021, respectively.

Blackstone (NYSE:BX) appointed Courtney della Cava as Senior Managing Director and Global Head of Talent & Leadership for its Portfolio Operations Group, effective August 1. Della Cava, previously a Partner at Bain & Company, will enhance leadership for over 200 portfolio companies. Jennifer Morgan, Global Head of Portfolio Operations, emphasized her expertise in talent development as critical for growth and investor value. Della Cava brings over 20 years of consulting experience and an MBA from Wharton, aiming to advance human capital across Blackstone's global investments.