Blackstone Inc Stock Price, News & Analysis

Blackstone (NYSE: BX) has announced the final closing of Blackstone Growth (BXG), its first growth equity fund, at a hard cap of $4.5 billion. The fund was oversubscribed and attracted investments from diverse sources including family offices, pension funds, and high-net-worth individuals, marking it as the largest first-time growth equity fund ever raised.

Since its inception in 2020, BXG has made significant investments in companies like Bumble and Oatly. BXG aims to support growth-stage entrepreneurs by providing a concentrated portfolio approach and access to Blackstone's extensive resources.

Blackstone (NYSE: BX) has agreed to acquire DESOTEC, a prominent European environmental service company, from EQT. This investment aligns with Blackstone's strategy of investing in market-leading firms for the long term. Based in Roeselare, Belgium, DESOTEC specializes in circular filtration solutions using activated carbon technology. The company operates Europe’s largest fleet of mobile filters, serving various industrial applications. Blackstone's leadership emphasizes the growth potential linked to increasing environmental responsibility, signaling a strong commitment to supporting DESOTEC's expansion.

The California Public Utilities Commission has identified over 2,000 megawatts of renewable energy in southwest Nevada to support California's climate objectives. GridLiance proposes the Silverado Renewables Connection to enhance transmission capacity, enabling the flow of renewable energy from Nevada to California. This initiative is expected to create thousands of jobs and generate over half a billion dollars in economic activity. The California Independent System Operator will study the necessary upgrades, with final recommendations anticipated in March 2022.

Blackstone (NYSE:BX) has appointed Scott Bommer as the Chief Investment Officer of its new Blackstone Horizon platform, a strategic initiative under Blackstone Alternative Asset Management. This platform aims to deliver strong absolute returns through partnerships with high-performing investment managers while focusing on global growth trends. Bommer brings 17 years of experience from SAB Capital Management and has a background in late-stage growth investing. His leadership is expected to enhance BAAM's hedge fund business.

Blackstone (NYSE: BX) announced the completion of its $3.4 billion acquisition of a 2.3 million square foot lab office portfolio from a Brookfield Asset Management fund. This deal is part of Blackstone Property Partners Life Sciences’ core+ return strategy. Post-sale, 97% of the portfolio will be concentrated in Cambridge, Massachusetts, a key hub for life sciences. BioMed Realty, with an enterprise value of approximately $20 billion, will manage over two-thirds of the assets in the Boston/Cambridge area, highlighting the strategic importance of this acquisition in a booming market.

Blackstone (NYSE:BX) announced that CFO Michael Chae will present virtually at the 22^nd Annual Credit Suisse Virtual Financial Services Forum on February 25^th at 1:50 pm. A live webcast will be accessible in the Shareholders section of Blackstone's website.

For those unable to attend live, a replay will be available shortly after the event. Blackstone, a leading investment firm with $619 billion in assets under management, aims to create long-term value for investors and communities through various investment vehicles.

Cryoport, Inc. (Nasdaq: CYRX) announced the conversion of 50,000 shares of 4.0% Series C Convertible Preferred Stock into common stock by funds affiliated with Blackstone (NYSE: BX). This conversion resulted in 1,312,860 new shares of common stock issued on February 5, 2021, part of Blackstone's original $250 million investment. Cryoport's leadership highlighted the strategic acquisitions of CRYOPDP and MVE Biological Solutions as key factors for future growth in temperature-controlled supply chain solutions, anticipating increased demand in cell and gene therapies.

Blackstone (NYSE: BX) has appointed Shary Moalemzadeh as a Senior Managing Director for its Tactical Opportunities platform, effective April. With nearly 30 years in private equity and credit investments, Mr. Moalemzadeh brings extensive experience from his previous role at Carlyle, where he co-led Illiquid Credit Strategies. Blackstone's Global Head of Tac Opps, David Blitzer, highlighted Mr. Moalemzadeh's expertise in providing flexible capital solutions across various sectors. The Tac Opps team focuses on identifying unique investment opportunities worldwide.