These statements are based on the Companys (as defined below) and BREITs, as applicable, current expectations and assumptions regarding markets in which American Campus Communities, Inc. (the Company) and BREIT respectively operates, their respective operational strategies, anticipated events and trends, the economy, and other future conditions. Blackstone (NYSE:BX) announced that it will host its first quarter 2023 investor conference call via public webcast on April 20, 2023 at 9:00 a.m. [173][53], In separate cases in 2018 and 2019, the hotel chain Motel 6, owned by Blackstone, agreed to settle for a total of $19.6 million for giving guest lists to U.S. Immigration and Customs Enforcement (ICE) without a warrant. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. American Campus Communities . Blackstone is a member of the Real Estate Roundtable, a special interest group which spends millions on lobbying and political donations every year. Stockman led many key deals in his time at the firm, but had a mixed record with his investments. Reuters reported last month that Cvent had rejected a previous offer of $3.9 billion from Blackstone and said it was exploring a sale that could value it at about $4 billion, citing a person familiar with the matter. List of Blackstone Group 's 148 Acquisitions, including Cvent and R Systems. [4]:4556[5] The founders named their firm "Blackstone," using a cryptogram derived from the names of the two founders (Schwarzman and Peterson). I am excited by the opportunity to work alongside the talented team that makes up this business in order to build upon a decades-long track record of success and innovation. By submitting this request, you consent to receive email from Blackstone. Between 1995 and 2014, PNC reported $12 billion in pretax revenues and capital gains from BlackRock, Schwarzman later described the selling of BlackRock as his worst business decision ever. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. 345 Park Avenue, Blackstone Securities Partners L.P. ("BSP") is a broker-dealer whose purpose is to distribute Blackstone managed or affiliated products. Blackstone's most notable investments include Allied Waste,[39] AlliedBarton Security Services, Graham Packaging, Celanese, Nalco, HealthMarkets, Houghton Mifflin, American Axle, TRW Automotive, Catalent Pharma Solutions, Prime Hospitality, Legoland, Madame Tussauds,[161] Luxury Resorts (LXR), Pinnacle Foods, Hilton Hotels Corporation, Motel 6, Apria Healthcare, Travelport, The Weather Channel (United States) and The PortAventura Resort. For press inquiries, contact[emailprotected]. Austin, Texas and New York August 9, 2022 Blackstone (NYSE: BX) today announced that Blackstone Core+ perpetual capital vehicles, primarily comprising Blackstone Real Estate Income Trust, Inc. (BREIT) and Blackstone Property Partners (BPP), have completed the previously announced acquisition of all of the outstanding shares of common stock of American Campus Communities, Inc. (ACC), the largest developer, owner and manager of high-quality student housing communities in the United States, for approximately $12.8 billion, including the assumption of debt. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. In 2019, a United Nations report found that Blackstone's massive purchasing of single-family homes after the financial crisis of 20072008 had "devastating consequences. During the buyout boom of 2006 and 2007, Blackstone completed some of the largest leveraged buyouts. Blackstone Inc.'s $70 billion real estate trust for wealthy individuals limited redemptions for a sixth . Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Our scale - with more than 12,000 real estate assets and 250 portfolio companies - enables us to invest in dynamic sectors positioned for long-term growth. Neither ACC nor BREIT undertakes any obligation to publicly update any forward-looking statements. A group of private equity firms, including Blackstone Group, Carlyle Group and Hellman & Friedman, agreed to buy a majority stake in medical supply manufacturer and distributor Medline. [36] Also in 1997, Blackstone made its first investment in Allied Waste. The transaction, comprising 4 million square feet of warehouses, is one of the largest logistics portfolio transactions ever reported in Japan, and reinforces Blackstones commitment to []. HE'S ALSO THE CEO WHOSE STOCK HAS BLOWN AWAY INTEL AND MICROSOFT SO FAR IN THE 1990S. Blackstone Group 's most notable exits include BC Partners , NCR , and Paysafe. In 2015, the digital assets were sold to IBM for $2 billion. See here for a complete list of exchanges and delays. By submitting this request, you consent to receive email from Blackstone. We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them. In October 2021, the Blackstone Group acquired a majority stake of Spanx, Inc. 1332(d). At the end of 2002, Blackstone, together with Thomas H. Lee Partners and Bain Capital, acquired Houghton Mifflin Company for $1.28 billion. In January 2016, Blackstone Real Estate Partners VIII L.P. acquired BioMed Realty Trust for $8 billion. Blackstone will host its first quarter 2023 investor conference call via public webcast on April 20, 2023 at 9:00 a.m. The transaction values the Chicago-based firm at $6 . Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. The new flagship location will occupy 1,300 square meters in the OMNITURM in Frankfurts financial district and serve as a hub for Blackstone in Germany. [74] However, Blackstone failed to raise capital through an initial public offering that summer and the project were shelved. Investors asked to redeem $4.5 billion in April from Blackstone Real Estate Income Trust, the same amount shareholders sought to pull in March, according to a letter Monday. [22] That same year, Blackstone formed a partnership with J. O. Hambro Magan in the UK and Indosuez in France. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. An investment in BREIT involves risks. The companys products play a key role in improving the energy efficiency of heating and cooling solutions as well as in the rapidly growing market for electric heat pumps and climate-friendly refrigerants, which are being increasingly adopted globally to reduce environmental impact and carbon emissions. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. throughout the United States. [160] From 1987 to its IPO in 2007, Blackstone invested approximately $20 billion in 109 private equity transactions.[14]. [45], With a significant amount of capital in its new fund, Blackstone was one of a handful of private equity investors capable of completing large transactions in the adverse conditions of the early 2000s recession. [163], The purchase and subsequent IPO of Southern Cross led to controversy in the UK. To receive email alerts from Blackstone, sign up below. In the last 3 years, The Blackstone Group has acquired 36 companies. The private equity firm said it would acquire Preferred Apartment Communities, a real estate investment trust, for $6 billion. about Blackstone Real Estate Announces Sale of a Logistics Portfolio in Japan, Representing One of the Largest Logistics Portfolio Transactions in the Country, about Ross B. Shuster to Join as CEO of Standalone Climate Technologies Business Following the Close of the Acquisition by Blackstone from Emerson, about Blackstone Reports First Quarter 2023 Earnings Results, about Blackstone Announces $30.4 Billion Final Close for Largest Real Estate Drawdown Fund Ever, about Blackstone Announces First Quarter 2023 Investor Call, about Blackstone Announces Opening of New Office in Frankfurt, Germany, about Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction, about Blackstone and Sixth Street Complete Sale of Kensington Mortgages to Barclays Bank UK PLC, about Blackstone to Present at the Bank of America Securities Financial Services Conference 2023, Individual Investors & Financial Advisors, Blackstone Real Estate Announces Sale of a Logistics Portfolio in Japan, Representing One of the Largest Logistics Portfolio Transactions in the Country, Ross B. Shuster to Join as CEO of Standalone Climate Technologies Business Following the Close of the Acquisition by Blackstone from Emerson, Blackstone Reports First Quarter 2023 Earnings Results, Blackstone Announces $30.4 Billion Final Close for Largest Real Estate Drawdown Fund Ever, Blackstone Announces First Quarter 2023 Investor Call, Blackstone Announces Opening of New Office in Frankfurt, Germany, Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction, Blackstone and Sixth Street Complete Sale of Kensington Mortgages to Barclays Bank UK PLC, Blackstone to Present at the Bank of America Securities Financial Services Conference 2023. Blackstone Real Estate has an agreement to acquire six Greater Toronto Area industrial properties comprising 1.5 million square feet of space for over $400 million. (Petros) -- "a stone" or "a boulder," Peter, one of the twelve apostles", "Blackstone's Chief Has a Warning for Wall Street's Entrepreneurs", A Big Fund Ready to Capitalize on Hard Times, CNW Accepts Buyout Bid From Blackstone Group, 2 Wall Street Firms Join To Buy Savings Units, "Stephen Schwarzman And Blackstone: Wall Street's Unstoppable Force", "U.S. Mergers Firm Is Forming British Link", Prime to Sell Interest in Inns to Blackstone, U.S. Mergers Firm Is Forming British Link, "WHO THE HELL IS HENRY SILVERMAN? With 1,201 units, Elara is one of the world's . Language links are at the top of the page across from the title. This is their second majority acquisition of an Indian tech firm after it acquired a controlling stake in Mphasis for nearly $3 billion in April last year. [162], Blackstone's most notable real estate investments have included EQ Office, Hilton Worldwide, Trizec Properties, Center Parcs UK, La Quinta Inns & Suites, Motel 6, Wyndham Worldwide, Southern Cross Healthcare and Vicinity Centres. The company was sold to Kohlberg Kravis Roberts in 2012. Blackstone's most notable transactions during this period included the following: In 2004, Blackstone had explored the possibility of creating a business development company (BDC), Blackridge Investments, similar to vehicles pursued by Apollo Management. BSP provides services to its Blackstone affiliates, not to investors in its funds, strategies or other products. "[180] The report alleged that Blackstone had abused tenants with exorbitant fees, rent hikes, and aggressive eviction practices, and that Blackstone's real estate practices had a disproportionate impact on communities of color, in part because the company targeted foreclosures resulting from subprime loans. Part of the purchase involved splitting the business into a property company, NHP, and a nursing home business, which Blackstone claimed would become "the leading company in the elderly care market". Individual Investors & Financial Advisors. A rout in tech stocks last year shrank company valuations, making them enticing targets for private equity suitors. NEW YORK APRIL 24, 2023 Blackstone (NYSE: BX) today announced that, upon close of the previously announced transaction through which private equity funds managed by Blackstone (Blackstone) will acquire a majority stake in Emersons (NYSE: EMR) Climate Technologies business, Ross B. Shuster will become Chief Executive Officer of the new standalone business. BOSTON, MA & NEW YORK, NY - November 17, 2021 - Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone ("Blackstone") have completed their previously announced acquisition of International Data Group, Inc. ("IDG") from Oriental Rainbow, LLC, a subsidiary of China Oceanwide Holdings Group, Co. Ltd. for an enterprise See 28 U.S.C. For press inquiries, contact[emailprotected]. HE'S THE KING OF FRANCHISING, FOR ONE THING. It focuses on private equity, real estate, hedge fund solutions (BAAM), credit businesses, closed-end mutual funds, and advisory and . [171], In 1990, Blackstone created a fund of hedge funds business to manage internal assets for Blackstone and its senior managers. Blackstone announced that it will open a new office in Frankfurt, Germany. [34], In 1997, Blackstone completed fundraising for its third private equity fund, with approximately $4 billion of investor commitments[35] and a $1.1 billion real estate investment fund.