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. (NYSE: BX) generates frequent news coverage as the world’s largest alternative asset manager, and its announcements highlight activity across real estate, private equity, credit, infrastructure and energy-related investments. This news page aggregates updates drawn from Blackstone’s own releases and regulatory disclosures so readers can follow how the firm deploys capital and manages its portfolio.
Recent items illustrate the breadth of Blackstone’s activity. Funds managed by Blackstone’s private equity strategy for individual investors became the sole institutional investor in AIR Control Concepts, a commercial HVAC, electrical and controls platform operating across numerous U.S. states and Canada. Blackstone Energy Transition Partners and other Blackstone funds acquired Alliance Technical Group, an environmental testing, monitoring and compliance services provider, and announced a majority ownership position in a combined MacLean Power Systems and Power Grid Components platform serving the electrical grid.
Other news features include Blackstone Energy Transition Partners’ investment in Wolf Summit Energy, a combined-cycle natural gas power generation facility in West Virginia, as well as a strategic partnership with Phoenix Financial focused on corporate, real estate and asset-based credit. Blackstone Credit & Insurance has also announced a forward flow origination partnership with Harvest Commercial Capital to acquire small business loans secured by first lien mortgages on owner-occupied commercial real estate.
In addition, Blackstone issues updates on capital markets activity, such as senior notes offerings by an indirect financing subsidiary, and appearances at financial conferences. Investors and observers can use this page to review earnings-related releases, financing transactions, major investments, partnerships and leadership appointments connected to Blackstone’s global alternative asset management business.
Blackstone (NYSE: BX) has led a significant investment and recapitalization in Precision Medicine Group (PMG), enhancing its role in drug development and commercialization services. This partnership involves participation from PMG co-founders and existing investors including Berkshire Partners and TPG Growth. The investment aims to expand PMG's global capabilities, facilitating faster approval and market reach for innovative therapies. Blackstone's expertise in drug development is expected to add value to PMG's mission of improving health outcomes.
Blackstone (NYSE:BX) announced that Stephen Schwarzman, Chairman, CEO, and Co-Founder, will present virtually at the Goldman Sachs 2020 US Financial Services Conference on December 9, 2020, at 12:40 PM. A live webcast will be available on the Shareholders section of Blackstone's website, with a replay accessible shortly after the event. Blackstone manages $584 billion in assets, investing across various sectors including private equity and real estate, focusing on long-term value creation for investors and communities.
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Blackstone (NYSE: BX) has entered a definitive agreement to acquire Therma Holdings LLC, a mechanical, electrical, and controls services company, enhancing its commitment to cleaner energy solutions. Therma's workforce of 2,200 focuses on improving energy efficiency across sectors like technology and healthcare. Additionally, Blackstone is acquiring RE Tech Advisors, which will integrate into Therma, expanding its sustainability services. This acquisition aligns with Blackstone's goal of a 15% carbon emissions reduction across new investments. The deal is expected to close in Q4 2020, pending regulatory approvals.
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Blackstone (NYSE:BX) announced that Jon Gray, President and COO, will present at the Bank of America Securities 2020 Future of Financials Conference on November 10, 2020, at 12:30 pm ET. A live webcast will be available on Blackstone’s website, and a replay can be accessed afterward. Blackstone, a leading investment firm with $584 billion in assets under management, focuses on creating long-term value across various sectors, including private equity and real estate. For more details, visit Blackstone's website.
Blackstone (NYSE: BX) has announced the final close of its second vintage long-hold private equity strategy, Blackstone Core Equity Partners (BCEP II), reaching a hard cap of $8 billion, over 70% larger than its predecessor. This marks the largest capital raised from external investors for a long-hold private equity vehicle ever. The strategy, initiated in 2014, aims at investing in high-quality companies for extended periods. Blackstone's private equity arm manages $184 billion in assets and has a history of identifying value and enhancing company performance.
Blackstone Real Estate Income Trust (BREIT) announced a definitive agreement to acquire Simply Self Storage from Brookfield Asset Management for approximately $1.2 billion. This acquisition will enhance BREIT’s position as the third largest non-listed owner of storage in the U.S., adding to its existing $300 million portfolio of self-storage facilities. Frank Cohen, BREIT's CEO, highlighted the potential for growth in the resilient self-storage sector, which offers stable cash flows and low tenant turnover. The transaction is expected to close before the end of 2020, subject to customary conditions.
Blackstone (NYSE: BX) announced the sale of BioMed Realty for $14.6 billion to a group led by existing investors. This strategic move, part of Blackstone's long-term core+ capital strategy, aims to maintain exposure in life science real estate, a high-conviction sector. Blackstone’s investment in BioMed has generated $6.5 billion in cumulative profits since acquiring it in 2016. The recapitalization will offer existing investors the option to exit for cash or reinvest. The transaction is set to close within five business days after the “go-shop” process.
On October 14, 2020, N. Beth Emery, Senior Vice President of GridLiance, received the Silver Stevie Award for Lifetime Achievement in Business at the Stevie Awards for Women in Business. With over 40 years in the energy sector, Emery is recognized for her significant contributions, including her role in founding GridLiance, an independent electric transmission company. The award highlights her commitment to empowering women in a traditionally male-dominated industry and her community contributions. Emery announced her retirement set for the end of the year, continuing her service as special counsel.