Blackstone (NYSE:BX) announced that it will host its third quarter 2023 investor conference call via public webcast on October 19, 2023 at 9:00 a.m. ET.
Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion
Blackstone (NYSE: BX) announced today the integration of its market-leading corporate credit, asset-based finance, and insurance groups into a single new unit, Blackstone Credit & Insurance (BXCI). Credit and Insurance is Blackstone’s fastest-growing segment – more than doubling to $295 billion in assets under management over the last three years. Today, Blackstone’s market-leading businesses include: the largest BDC (BCRED), largest private credit energy transition fund (BGREEN), largest manager of CLOs and senior loans in the world, and the second-largest alternative manager of insurance assets.
Vornado Realty Trust, Hudson Pacific, Blackstone, and New York City Economic Development Corporation to Create Public-Private Partnership and First Purpose-Built Studio Campus in Manhattan at Pier 94
Vornado Realty Trust (NYSE: VNO), Hudson Pacific Properties (NYSE: HPP), Blackstone (NYSE: BX), the City of New York, and New York City Economic Development Corporation (NYCEDC) announced they have entered into Manhattan’s first public-private partnership venture to build a purpose-built studio campus at Pier 94. Vornado, who contributed its long-term leasehold for Pier 94 to the venture, will own 49.9%; Hudson Pacific will own 25.6%; and Blackstone’s institutional Core+ Real Estate strategy will own 24.5%. Vornado will be responsible for development and Hudson Pacific will provide design oversight and manage the facility’s leasing and operations.
Realty Income has signed a definitive agreement to invest approximately $950 million to acquire common and preferred equity interests in the Bellagio.
Blackstone (NYSE: BX) announced that its Tactical Opportunities business closed its fourth flagship commingled fund, Blackstone Tactical Opportunities Fund IV (“BTO IV”), raising a record $5.2 billion of capital commitments. Including other single-investor vehicles pursuing the same strategy, the combined BTO IV platform is currently expected to have nearly $10 billion of new capital in its fourth fundraising vintage.
Blackstone (NYSE: BX) announced the final close of its energy transition credit fund, Blackstone Green Private Credit Fund III (BGREEN III). BGREEN III closed at its hard cap of $7.1 billion, representing the largest energy transition private credit fund ever raised.
CoreWeave Secures $2.3 Billion Debt Financing Facility led by Magnetar Capital and Blackstone to Meet Surging Demand and Ongoing Expansion of Specialized Cloud Infrastructure to Power AI
CoreWeave, a specialized cloud provider of large-scale GPU-accelerated workloads, announced it has secured a $2.3 billion debt financing facility. The funding was led by Magnetar Capital and funds managed by Blackstone Tactical Opportunities (“Blackstone”) with strategic participation from leading asset management firms Coatue and DigitalBridge Credit, and funds and accounts managed by BlackRock, PIMCO, and Carlyle.
The portfolio comprises 127 wholly-owned properties and 9 million net rentable square feet that are geographically diversified across 18 states and located in markets with population growth that has been approximately double the national average since 2018.
Blackstone will host its second quarter 2023 investor conference call via public webcast on July 20, 2023 at 9:00 a.m. ET.