Blackstone Inc Stock Price, News & Analysis

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.

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.

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 announced a definitive agreement to acquire Interior Logic Group Holdings, LLC for approximately $1.6 billion from Littlejohn & Co. and Platinum Equity. ILG is a leader in providing interior design and supply chain solutions to homebuilders, operating in 37 states and aiding nearly 100,000 home completions annually. Blackstone aims to leverage ILG's technology and resources to expand its market reach and enhance operations. This transaction is expected to close in Q2 2021, subject to customary conditions.

Blackstone Real Estate Income Trust (BREIT) and LBA Logistics announced the recapitalization of two industrial portfolios valued at $1.6 billion. BREIT acquired approximately 60% interest in the 71 assets, spanning 9.5 million square feet and boasting 95% occupancy. The properties, located mainly in top-performing markets like California and Seattle, align with BREIT's strategic focus on last-mile logistics. Following this transaction, over 90% of BREIT's investments will be in multifamily, industrial, and net leased assets, with industrial comprising more than 35% of its portfolio.

Blackstone (NYSE:BX) has appointed Michael Hovey as Senior Managing Director for Blackstone Insurance Solutions (BIS). Hovey brings over 23 years of insurance investment banking experience, most recently serving at Morgan Stanley as Co-Head of Insurance Investment Banking in North America. He will lead investments and strategic partnerships at BIS, which manages over $60 billion in assets for insurance companies. Executives express enthusiasm for Hovey's leadership, highlighting his extensive expertise as crucial for identifying new investment opportunities in the insurance sector.