Blackstone – The News Desk

A Real-Estate Juggernaut Ran Off the Rails in 2023

1Jan

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World

A Real-Estate Juggernaut Ran Off the Rails in 2023

From 2019 to 2022, a new type of real-estate fund became one of the hottest fundraising juggernauts on Wall Street by giving individual investors the chance to participate in soaring values of apartment buildings, warehouses and other types of commercial property.Last year, those funds, known as nontraded real-estate investment trusts, ran off the rails. As concerns increased about the troubled commercial-property market, fundraising plummeted by the funds’ sponsors, many of them giant investment firms such as Blackstone and Starwood Capital Group.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Blackstone, Digital Realty Team Up to Develop $7 Billion in Data Centers

7Dec

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World

Blackstone, Digital Realty Team Up to Develop $7 Billion in Data Centers

Investment giant Blackstone and Digital Realty, one of the world’s largest data-center companies, are creating a new venture to develop $7 billion in data centers that will target the largest providers of online content, cloud services and artificial intelligence.The venture plans to develop 10 data centers on four campuses in Frankfurt, Paris and northern Virginia over the next five or six years, the companies said. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Blackstone Nears $2.5 Billion Deal to Buy Software Developer Civica

22Nov

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Money

Blackstone Nears $2.5 Billion Deal to Buy Software Developer Civica

Updated Nov. 21, 2023 12:07 pm ETBlackstone is in advanced talks to buy Civica in a deal valuing the U.K.-based software developer at close to $2.5 billion including debt, according to people familiar with the matter.The tie-up, if completed, could be announced as soon as Wednesday. It would mark Blackstone’s latest bet in the U.K. following its recent purchases of two hotels—one in Birmingham and another outside of Edinburgh—and a project to build affordable housing across the U.K.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

21Nov

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World

Blackstone Nears $2.5 Billion Deal to Buy Software Developer Civica

Nov. 21, 2023 11:50 am ETBlackstone is in advanced talks to buy Civica in a deal valuing the U.K.-based software developer at close to $2.5 billion including debt, according to people familiar with the matter.The tie-up, if completed, could be announced as soon as Wednesday. It would mark Blackstone’s latest bet in the U.K. following its recent purchases of two hotels—one in Birmingham and another outside of Edinburgh—and a project to build affordable housing across the U.K.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Private Debt Was Supposed to Collapse When Rates Rose. Instead It Is Everywhere.

13Nov

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World

Private Debt Was Supposed to Collapse When Rates Rose. Instead It Is Everywhere.

Wall Street’s doom-mongers spent years warning that private lenders would be the next bubble to burst when central banks tightened policy. Instead, the funds are becoming even more ubiquitous as companies scramble to refinance debt in a higher interest-rate environment.Take PetVet Care Centers. The Westport, Conn.-based company operates 450 veterinary clinics and hospitals across the U.S. and has been owned by private-equity giant KKR since 2018. It has been a successful acquisition, but the company is facing a wall of debt maturities that can only be refinanced at higher cost. KKR is providing $600 million of additional equity to ease the burden, while private-debt lender Blue Owl Capital will extend PetVet a $2.3 billion senior loan.Copyright ©2023 Dow Jones & Company, Inc. All Righ...

Private Equity, Now Featuring Less Equity

10Nov

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Money

Private Equity, Now Featuring Less Equity

Giants like Apollo, Blackstone and KKR made their names in the business of private equity. But today, the thing that investors seem most excited about is growth in their private credit businesses.Recent flows of money into what are now known as alternative-asset managers have often tilted toward alternative forms of lending and away from classic private-equity buyouts. Buyout fundraising has been slowed in part by the difficulty of exiting old deals. Real-estate funds have also been hit by worries about things like commercial property values.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

1Nov

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World

CVC Drops Planned IPO

The buyout giant was planning to list its shares in Amsterdam, in a deal aiming to value the firm at more than $12 billion.

Stocks Sink After Being Yanked by Powell Comments

20Oct

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Money

Stocks Sink After Being Yanked by Powell Comments

Stocks ultimately sank Thursday after being whipsawed by remarks from Federal Reserve Chair Jerome Powell.Powell’s comments jostled markets as investors were weighing bond yields’ ascent toward 5%, the continuing conflict between Israel and Hamas, and the influx of corporate earnings results from the third quarter. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Disney: Blackstone holds initial talks with Disney for stake in India arm

11Oct

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Business

Disney: Blackstone holds initial talks with Disney for stake in India arm

MUMBAI -Private equity firm Blackstone has held preliminary discussions with Walt Disney to acquire a stake in the Indian arm of the entertainment firm, two sources familiar with the matter told Reuters on Wednesday. Blackstone is the latest suitor for Disney's assets in the hyper competitive Indian market, where it has been exploring a sale or a joint venture partner for the digital and TV business. Blackstone and Disney declined to comment. Blackstone-backed US media firm Candle Media, founded by former Disney executives, led conversations between the two parties last week, one of the sources said. Indian newspaper The Economic Times first reported the talks earlier on Wednesday. Disney has also held talks with Indian billionaires Gautam Adani and Sun TV Network owner Kalanithi Maran, ...

The New Kings of Wall Street Aren’t Banks. Private Funds Fuel Corporate America.

8Oct

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Money

The New Kings of Wall Street Aren’t Banks. Private Funds Fuel Corporate America.

Listen to article(2 minutes)Hyland Software, a business software company based in Ohio, relied on Credit Suisse for years to arrange billions of dollars in loans. After the Swiss bank collapsed in March, Hyland switched tracks and borrowed $3.4 billion from a little-known investment firm, Golub Capital, and others that specialize in a Wall Street craze known as “private credit.”Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8