Blackstone Inc Stock Price, News & Analysis

Blackstone Life Sciences (BXLS) announced the hiring of Dr. Monika Vnuk and Matt Lane as Managing Directors in Cambridge. Dr. Vnuk, previously with Pfizer, brings extensive experience in worldwide business development, notably in the COVID-19 vaccine partnership with BioNTech. Matt Lane has over 20 years in life sciences advising, including significant tenure at Cowen Group. BXLS currently manages over $7 billion in assets and aims to leverage the new hires' expertise to enhance investment activities in biopharmaceuticals.

Blackstone (NYSE: BX) has partnered with Hipgnosis Song Management Ltd to invest approximately $1 billion to acquire music rights and manage catalogues. This collaboration aims to establish songs as a significant asset class, enhancing the value of music rights. Hipgnosis, which manages the largest UK-listed music investment fund with gross assets of about $2.2 billion, is expected to leverage Blackstone’s investment to improve management capabilities and provide co-investment opportunities for stakeholders. This partnership underscores the growing value in the music industry.

Simpli.fi has received a significant equity investment from private equity funds managed by Blackstone, valuing the company at approximately $1.5 billion. This partnership with GTCR positions Blackstone and GTCR as majority shareholders. Simpli.fi, which powers over 120,000 digital campaigns each month for 30,000 active advertisers, aims to enhance its product innovation and market leadership in programmatic advertising. The goal is to adapt to the growing shift from linear to digital media spending.

Blackstone LaunchPad expands its student entrepreneurship program to the College of Southern Nevada and University of Nevada, Las Vegas. This initiative aims to equip students with essential entrepreneurial skills and opportunities to foster next-generation companies and careers. Key benefits include access to a global network, mentorship, pitch competitions, and fellowships. The expansion aligns with Blackstone Charitable Foundation’s $40 million commitment to support diverse higher education institutions, ultimately benefiting economic recovery in Nevada.

Blackstone has announced the sale of The Cosmopolitan of Las Vegas for $5.65 billion. Since acquiring the property in 2014, Blackstone invested over $500 million in renovations, enhancing guest rooms, dining options, and gaming amenities. The property exceeded pre-COVID performance levels in Q2 2021. MGM Resorts International will acquire operations, while Cherng Family Trust and Stonepeak Partners will purchase the real estate. The transaction is expected to close in early 2022, subject to regulatory approvals.

Blackstone Mortgage Trust (NYSE:BXMT) announced a private offering of $400 million in aggregate principal amount of its 3.750% senior secured notes due 2027. The offering closes on October 5, 2021, and the Notes will be guaranteed by wholly owned subsidiaries. This private transaction is aimed at qualified institutional buyers under Regulation S and Rule 144A of the Securities Act. The Notes have not been registered under the Securities Act, and their resale is subject to applicable laws.

Blackstone Mortgage Trust (NYSE:BXMT) has launched a private offering of $400 million in senior secured notes due 2027. These notes will be fully guaranteed by domestic subsidiaries of the company. The offering is made under an exemption from the Securities Act, targeting qualified institutional buyers in the U.S. and investors outside the U.S. The notes have not been registered and cannot be sold in the U.S. without registration or an exemption. Blackstone Mortgage Trust focuses on preserving shareholder capital and generating attractive dividends through real estate collateralized loans.

Blackstone (NYSE: BX) announced its portfolio company Transmission Developers Inc. has been selected by NYSERDA to deliver 1,250 MW of clean power to New York City. The Champlain Hudson Power Express project, spanning 339 miles, aims to significantly reduce fossil fuel reliance and carbon emissions, creating 1,400 jobs and establishing a $40 million Green Economy Fund for job training. The project is anticipated to start delivering power in 2025, subject to contract negotiation and necessary approvals.