Blackstone

Blackstone is an alternative asset manager that manages capital for pension funds, insurance companies, family offices, individual investors, and others. Its investment businesses span corporate private equity, real estate, infrastructure, credit, and life sciences, holding equity in companies, real estate, or debt through funds and investment vehicles across different strategies.⁠[1][2][3]

Stephen A. SchwarzmanStephen A. SchwarzmanStephen A. Schwarzman (Chinese name Su Shimin) is an American financier who co-founded the alternative asset manager Blackstone with Peter G. Peterson in 1985 and has long served as its chairman and CEO; he is also known for large gifts to institutions including Tsinghua University, MIT, the University of Oxford and Yale.Open the full entry and Peter G. Peterson co-founded Blackstone. The company’s 2007 annual report recalls that at its founding it had four employees (including the two founders) and $400,000 in assets; its early positioning was as an investment and advisory firm in which senior professionals served clients directly.⁠[4]

BlackRockBlackRockBlackRock is a publicly traded investment management company headquartered in New York, founded in 1988 by Larry Fink and seven others and listed on the New York Stock Exchange (ticker BLK); its businesses include the iShares family of exchange-traded funds and the Aladdin investment and risk management platform. As of June 30, 2026, its assets under management totaled $15.3 trillion.Open the full entry’s eight founders started their business in New York in 1988, at the time managing Blackstone’s fixed income investment business; the business was formally renamed BlackRock in 1992.⁠[5]

Blackstone began investing in real estate and subsequently expanded the business into opportunistic, Core+, and real estate debt strategies. Opportunistic funds acquire and improve properties, Core+ investments manage more stable assets over longer holding periods, and the debt business originates loans and invests in real estate-backed debt securities.⁠[2]

PNC completed its acquisition of BlackRock Financial Management and related partnerships for a total price of approximately $240 million, paid in cash and notes; this figure is the consideration for the entire acquisition.⁠[6]

A later FTC enforcement announcement records that Blackstone and Loewen completed the leveraged buyout of funeral home and cemetery company Prime Succession on August 26, 1996; the purchase agreement provided that three Blackstone partnerships would pay a combined $52 million for 76% of the voting securities, and provided for a future sale of interests to Loewen.⁠[7]

Blackstone became a major investor in solid waste collection, recycling, and disposal company Allied Waste starting in 1997; a 2002 company announcement records that Blackstone executives served on its board of directors.⁠[8]

Blackstone participated in a 1997 recapitalization, initially acquiring an 82% stake; the company held its IPO in January 1999 and conducted follow-on offerings in August 2001 and March 2002. Blackstone disclosed in a January 2003 announcement that its stake at the time was 26%.⁠[9]

Blackstone acquired specialty alloy producer Haynes International from Morgan LewisMorgan, Lewis & BockiusMorgan, Lewis & Bockius (Morgan Lewis) is an international law firm headquartered in Philadelphia, founded in 1873 by Charles Eldridge Morgan and Francis Draper Lewis, with practices spanning corporate transactions, litigation, regulatory work and labor and employment; after absorbing hundreds of lawyers from Bingham McCutchen in 2014, it joined the ranks of the ten highest-grossing U.S. law firms.Open the full entry Githens & Ahn. The company’s later annual report confirms that the transaction took place in 1997.⁠[10]

Blackstone funds and affiliates acquired an interest in refiner Premcor in November 1997; a 2003 company filing disclosed that Blackstone held 39.3% as of March 15 of that year. From 1998 to 1999, the company sold non-core assets and reinvested approximately $325 million in net proceeds in its refining business.⁠[11]

Company regulatory filings record that the recapitalization was completed on February 2, 1998, with Blackstone, management, and other investors together indirectly holding 85% of the interests in the holding partnership; the company completed its IPO in February 2010.⁠[12]

The U.S. Federal Trade Commission announced that Blackstone and Howard A. Lipson agreed to pay civil penalties of $2.785 million and $50,000, respectively, to settle charges that they failed to submit complete premerger notification materials in a timely manner in connection with the Prime Succession acquisition. The FTC said the omitted documents concerned the competitive relationship between the parties to the acquisition; the settlement does not constitute an admission of a violation by the defendants. The complaint, settlement documents, and proposed final judgment were filed in federal court on March 30.⁠[7]

Charter signed an agreement to acquire the Bresnan cable television business. At the time of the announcement, Blackstone Capital Partners III affiliates held about 40%, AT&TAT&TAT&T (AT&T Inc.) is a telecommunications company headquartered in Dallas, Texas. Its predecessor was SBC Communications, a regional holding company created in the 1984 breakup of the Bell System; SBC merged with the original AT&T Corp. in 2005 and adopted its name, and it has since operated a nationwide wireless network and fiber broadband, at one time also owning DIRECTV and WarnerMedia.Open the full entry Broadband about 50%, and William Bresnan and affiliates about 10%; the existing partners were to receive cash and a small equity interest in Charter.⁠[13]

Blackstone Real Estate Advisors purchased from TIAA a participating mortgage loan secured by 7 World Trade Center, whose terms allow it to share in gains from improvements in the asset’s operations; other terms of the transaction were not disclosed.⁠[14]

A Time Warner regulatory annual report records that in June 2002, Time Warner and Sony each sold 85% of their 50% stakes to Blackstone Capital Partners III, with each retaining a minority interest.⁠[15]

A consortium of THL, Bain Capital, and funds managed by Blackstone completed the acquisition of educational publisher Houghton Mifflin from Vivendi Universal for $1.66 billion.⁠[16]

Blackstone affiliates completed the $4.73 billion acquisition of TRW Automotive, with Blackstone and management together holding 80.4% and Northrop Grumman retaining 19.6%; the automotive business thereby became independent.⁠[17]

A consortium of Blackstone, ApolloApolloApollo (Apollo Global Management, Inc.) is an asset management and retirement services group founded in 1990 and listed on the New York Stock Exchange under the ticker APO. Its investment business spans credit, equity, and real assets; after its 2022 merger with Athene, asset management and retirement services were brought under the same listed parent company. At the end of June 2026, the group reported assets under management of about $1.047 trillion.Open the full entry, and Goldman SachsGoldman SachsGoldman Sachs is an American financial services group headquartered in New York whose businesses include investment banking, securities trading, asset management, and wealth management. It traces its origins to the commercial paper business Marcus Goldman founded in 1869; it listed on the New York Stock Exchange in 1999 under the ticker GS and became a bank holding company in 2008. David Solomon serves as chairman and chief executive officer.Open the full entry Capital Partners signed an agreement to acquire water treatment and industrial process chemicals company Nalco from Suez in a transaction valued at $4.2 billion; of the planned financing, about $3.2 billion was debt, with the remainder being consortium equity.⁠[18]

A consortium of PMI, Blackstone, Cypress, and CIVC completed the acquisition of FGIC Corporation from a GE Capital subsidiary; company filings record that Blackstone held about 23% of the common stock as of the end of 2004.⁠[19]

Haynes’s annual report records that, with its major markets declining simultaneously and raw material and energy costs rising, the company could not meet both its debt service and its operating needs; it filed for Chapter 11 reorganization on March 29, 2004, and emerged from bankruptcy under an approved plan on August 31.⁠[10]

Blackstone completed its initial public offering on the New York Stock Exchange under the ticker BX, with the listed entity structured as a limited partnership at the time. The listing provided the company with a new channel of capital.⁠[4][20]

Affiliates of Blackstone’s real estate and corporate private equity funds completed the take-private of Hilton, with common shareholders receiving $47.50 per share in cash. The acquisition, repayment of certain debt, and transaction costs were supported by $20.6 billion of mortgage and mezzanine debt financing and approximately $5.7 billion of equity investment from Blackstone-affiliated investment funds.⁠[21]

Affiliates of Blackstone and Wellspring completed the approximately $1.4 billion acquisition of PFG and combined it with their controlled VISTAR platform; PFG shareholders received $34.50 per share in cash.⁠[22]

NBCNBCNBC (National Broadcasting Company) is an American national commercial broadcast television network. It was founded by RCA in 1926, began as a radio network and later developed television. With ABC and CBS it is one of the three traditional U.S. broadcast networks; it passed to General Electric with RCA in 1986, merged with Universal to form NBCUniversal in 2004, has been controlled by Comcast since 2011, and is one of the five networks that rotate in the White House television pool.Open the full entry Universal, Bain Capital, and Blackstone signed an agreement to acquire The Weather Channel’s television network, website, and weather services businesses from Landmark Communications; the announcement did not disclose financial terms.⁠[23]

Blackstone completed its acquisition of home healthcare services provider Apria for a total of approximately $1.7 billion, including repayment of debt and transaction costs, at $21 per common share in cash.⁠[24]

Blackstone Capital Partners V completed the acquisition of Busch Entertainment from AB InBev, which was renamed SeaWorld Parks & Entertainment; the consideration was $2.3 billion in cash plus a right of up to $400 million tied to Blackstone’s investment returns, for a total of up to $2.7 billion.⁠[25]

Blackstone Capital Partners VI signed a take-private agreement with healthcare revenue and payment cycle management company Emdeon at $19 per share in cash, in a transaction valued at approximately $3 billion; Hellman & FriedmanHellman & FriedmanHellman & Friedman (H&F) is a private equity investment firm founded by Warren Hellman and Tully Friedman in 1984. Its website lists offices in San Francisco, New York and London.Open the full entry planned to retain a significant minority stake.⁠[26]

Blackstone Capital Partners V completed the acquisition of facility services company GCA Services, whose businesses include janitorial, facility operations and maintenance, and staffing services, from Nautic Partners and other minority shareholders; the transaction price was not disclosed.⁠[27]

Blackstone completed the acquisition of Strategic Partners, a secondary private fund investment business, from Credit Suisse; it then managed $10 billion in assets. This figure is assets under management, and the acquisition price was not disclosed.⁠[28]

Blackstone made a strategic investment in IT services provider ThoughtFocus and established the Blackstone Center of Excellence to provide IT outsourcing, offshore delivery, and administrative services to Blackstone itself.⁠[29]

Blackstone funds signed an agreement to sell security services provider AlliedBarton to Wendel for approximately $1.67 billion; company management reflected in the announcement on Blackstone’s seven years of support.⁠[30]

Affiliates of Blackstone Real Estate Partners VIII completed the acquisition of life science real estate company BioMed Realty for a total transaction value of approximately $8 billion; common shareholders received $23.75 per share plus additional cash calculated based on the closing date.⁠[31]

Blackstone signed an agreement with HPE to acquire its 60.5% stake at 430 Indian rupees per share and, as required by law, to make an open offer to purchase up to an additional 26% of shares; depending on the take-up of the offer, total consideration would be approximately $825 million to $1.1 billion.⁠[32]

Blackstone-affiliated funds signed an agreement to acquire music rights organization SESAC from Rizvi Traverse, the first investment of Blackstone’s Core Private Equity long-term holding strategy; financial terms were not disclosed.⁠[33]

Blackstone-affiliated private equity funds completed the acquisition of Aon’s benefits and cloud-based HR services platform: $4.3 billion in cash at closing, plus up to $500 million in contingent consideration tied to future performance.⁠[34]

Blackstone real estate funds signed an agreement to acquire a majority interest in flexible workspace platform The Office Group from Lloyd Dorfman and other shareholders at an enterprise value of approximately £500 million; co-founders Charlie Green and Olly Olsen retained stakes and continued as co-chief executive officers.⁠[35]

Creditors’ counsel disclosed that Jack Wolfskin reached a consensual restructuring of €365 million of debt, with a new holding company owned by first-lien lenders taking over the group; the coordinating committee included Bain Capital Credit, HIG/Bayside Capital, and CQS.⁠[36]

Private equity funds managed by Blackstone announced the acquisition of trade show and events organizer Clarion Events from Providence funds; the announcement did not disclose the consideration.⁠[37]

The take-private acquisition of Pure Industrial Real Estate Trust (PIRET) by affiliates of Blackstone Property Partners was completed, and its units ceased trading on the Toronto Stock Exchange the same day.⁠[38]

In its second-quarter results commentary, Blackstone said it had completed its final exit from Hilton during the quarter, generating $14 billion in profits for investors. This figure is investment profit disclosed by the manager.⁠[39]

Blackstone private equity and real estate funds completed the acquisition of meeting and event technology services provider PSAV, with Goldman Sachs affiliates reinvesting; financial terms were not disclosed.⁠[40]

Blackstone announced an agreement to acquire life sciences investment firm Clarus and establish the Blackstone Life Sciences platform; the announcement stated that Clarus had raised a cumulative $2.6 billion since its founding, a figure representing capital raised rather than the acquisition price.⁠[41]

Capri Holdings (formerly Michael Kors) completed the acquisition of all of Versace’s equity from the Versace family, Blackstone, and management.⁠[42]

Blackstone’s Core Private Equity strategy participated in the recapitalization of SERVPRO, a franchisor of residential and commercial property damage restoration services, and acquired a majority stake, with the Isaacson family continuing to invest and retaining a significant stake; the amount was not disclosed.⁠[43]

Deal counsel disclosed that Blackstone signed an agreement to acquire a 51% stake from the Ashok Goel Trust, triggering an open offer to purchase up to an additional 26% of shares; depending on the take-up of the offer, total consideration would be approximately $310 million to $462 million.⁠[44]

Blackstone completed its conversion from a publicly traded partnership to a corporation.⁠[45]

Blackstone completed the acquisition of logistics assets from three GLP U.S. funds for a total of $18.7 billion; the BREP strategy acquired 115 million square feet for $13.4 billion, and BREIT acquired 64 million square feet for $5.3 billion.⁠[46]

A consortium led by Blackstone private equity funds, including a wholly owned subsidiary of ADIA and other co-investors, completed the €1 billion acquisition of a 60% stake in Luminor bank; Nordea and DNB each retained 20%.⁠[47]

Invitation Homes’ annual results announcement disclosed that, after selling 57.6 million shares in a November 2019 secondary offering and distributing about 300,000 shares to its partners, Blackstone completed its exit and no longer beneficially owned any of the company’s shares.⁠[48]

Funds managed by Blackstone announced the acquisition of a majority stake in MagicLab at a company valuation of approximately $3 billion, with brands including Bumble and Badoo; Andrey Andreev sold his stake and exited the business, and Whitney Wolfe Herd became chief executive officer of the group.⁠[49]

Ferring and Blackstone Life Sciences announced that they would advance the development and commercialization of the bladder cancer gene therapy nadofaragene firadenovec through FerGene; Blackstone planned to invest $400 million and Ferring up to $170 million.⁠[50]

Blackstone and Alnylam entered into a combined financing arrangement of up to $2 billion: a $1 billion commitment to purchase 50% of Alnylam’s royalty and commercial milestone rights to inclisiran, up to $750 million in senior secured loans, up to $150 million in research and development funding planned under a non-binding letter of intent, and a $100 million common stock investment.⁠[51]

Blackstone Growth led a $200 million equity financing, with participants also including Orkila Capital, Rabo Corporate Investments, and individual investors; the $200 million is the total for the round, not Blackstone’s contribution alone.⁠[52]

BREP VIII and co-investors sold BioMed Realty for $14.6 billion to a buyer group led by existing investors, with the assets moving into a new long-term, perpetual capital Core+ strategy managed by Blackstone.⁠[53]

Blackstone funds completed the acquisition of digital family history and consumer genetics company Ancestry at an enterprise value of $4.7 billion; GICGICGIC is a long-term investment management institution wholly owned by the Government of Singapore, established in 1981 and headquartered in Singapore. It is entrusted with investing Singapore’s foreign reserves across equities, fixed income, private equity, real estate, and infrastructure, in order to preserve and enhance the reserves’ international purchasing power. The company is now named GIC Private Limited; its chairman is Lee Hsien Loong and its chief executive officer is Lim Chow Kiat.Open the full entry continued to hold a significant minority stake.⁠[54]

Funds managed by Blackstone Capital Partners and Blackstone Real Estate Partners signed an agreement to acquire UK holiday group Bourne Leisure; the Harris, Cook, and Allen founding families reinvested and retained a significant minority stake, and the transaction covered Haven, Butlin’s, and Warner Leisure Hotels.⁠[55]

A new group of Blackstone-managed funds, together with a wholly owned subsidiary of ADIA, UC Investments, and others, signed an agreement to acquire a controlling stake, with Blackstone committing up to $2.8 billion; another Blackstone fund had previously acquired control in September 2016.⁠[56]

Affiliates of Blackstone Infrastructure Partners, BREIT, and Blackstone Property Partners completed the take-private acquisition for consideration of approximately $10 billion, including debt; the common and preferred stock ceased to be publicly listed.⁠[57]

MGM’s quarterly filing records that the real estate of Aria (including Vdara) was sold for $3.89 billion in cash to a Blackstone-managed fund and leased back to an MGM subsidiary.⁠[58]

Blackstone private equity funds signed an agreement to acquire Phase 1 clinical trial services provider Nucleus Network, which at the time had facilities in Melbourne and Brisbane, Australia, and Minneapolis, United States.⁠[59]

Blackstone-managed funds completed a majority investment in apparel brand SPANX at a company valuation of $1.2 billion; the investment was made through the Blackstone Growth and Tactical Opportunities businesses.⁠[60]

BREP VII completed the sale of The Cosmopolitan for $5.65 billion; MGM acquired the operating business, and a partnership of Stonepeak, the Cherng Family Trust, and BREIT acquired the real estate and entered into a long-term net lease with MGM.⁠[61]

Blackstone private equity and real estate funds completed the acquisition of Australian integrated resort operator Crown Resorts.⁠[62]

Blackstone Real Estate affiliates completed the acquisition at $187.50 per share in cash, in a transaction valued at approximately $7.6 billion, including transaction costs.⁠[63]

Long-term capital vehicles led by BREIT and Blackstone Property Partners completed the acquisition of student housing company ACC for a total transaction value of approximately $12.8 billion, including assumed debt.⁠[64]

Apax funds signed an agreement to acquire a significant minority stake in travel and logistics software company IBS Software from Blackstone for approximately $450 million, with founder V K Mathews continuing as majority shareholder.⁠[65]

Blackstone private equity funds announced the acquisition of gemstone and jewelry certification organization IGI from Fosun’s Shanghai Yuyuan Tourist Mart (Group) and founding family member Roland Lorie; at the time the company had 29 laboratories and 18 schools of gemology in 10 countries.⁠[66]

Blackstone-affiliated funds completed the take-private at $8.50 per share in cash, at an enterprise value of approximately $4.6 billion; a wholly owned subsidiary of ADIA made a significant minority investment, existing shareholder Vista also participated, and Cvent’s common stock was subsequently delisted.⁠[67]

Realty IncomeRealty IncomeRealty Income Corporation is an American real estate investment trust (REIT) founded in 1969 and headquartered in San Diego, California. It pays monthly dividends and calls itself “The Monthly Dividend Company.”Open the full entry’s annual report discloses that in October 2023 it acquired common and preferred interests from BREIT for $951.4 million, of which the $301.4 million common equity investment corresponds to a 21.9% indirect interest in the property, and the other $650 million is a preferred equity interest in the joint venture.⁠[68]

Blackstone private equity funds signed an agreement with Sony Bank to acquire a majority stake in Sony Payment Services, with Sony Bank retaining a portion of the equity as a minority investor; the announcement did not disclose the consideration.⁠[69]

The company history records that it was acquired by Blackstone and its affiliates in 2021, separating from Takeda and changing its name; a transaction transferring shares to MBK Partners was completed in 2024.⁠[70]

Blackstone Growth and affiliated funds made a growth equity investment in drive-thru beverage chain 7 Brew; financial terms were not disclosed.⁠[71]

Blackstone-affiliated private equity funds completed the all-cash acquisition of pet care services platform RoverRoverRover is a pet-care marketplace founded in Seattle in 2011. It connects pet owners with providers of boarding, house sitting, dog walking, training and other services. After going public through a merger, it was acquired by Blackstone-managed funds and delisted in 2024. Subsequent acquisitions expanded its European, Australian and cat-care businesses.Open the full entry for a transaction value of approximately $2.3 billion, or $11 per share; the company’s common stock ceased trading on NasdaqNasdaqNasdaq is an exchange operator and financial technology company headquartered in New York. It runs The Nasdaq Stock Market and other markets and provides capital markets technology, regulatory technology, and data and index services. Founded in 1971, it combined with OMX AB in 2008, and in March 2026 the U.S. Securities and Exchange Commission approved its rules for trading tokenized securities.Open the full entry.⁠[72]

Moderna disclosed a financing agreement with Blackstone Life Sciences for the development and commercialization of its influenza vaccine program, under which Blackstone provides up to $750 million, with returns tied to cumulative commercial milestones and low single-digit royalties; Moderna retains full rights to and control of the program.⁠[73]

BREP X and BREIT completed the take-private of Tricon at $11.25 per common share in cash, for a total equity transaction value of $3.5 billion; BREIT maintained an indirect stake of approximately 11.6% after closing.⁠[74]

Private equity funds affiliated with Blackstone and Vista completed the acquisition of energy market simulation software company Energy Exemplar, whose products include PLEXOS and Aurora; the completion announcement did not disclose the consideration.⁠[75]

After completing a voluntary offer at 115 Norwegian kroner per share, the acquisition vehicle backed by Permira, Blackstone, and others held approximately 94.79% of the share capital and 94.53% of the voting rights, and on May 30 initiated the compulsory acquisition of the remaining shares.⁠[76][77]

Blackstone private equity funds completed the acquisition of the quick-service restaurant franchise platform from Levine Leichtman Capital Partners; financial terms were not disclosed. Nigel Travis became chairman.⁠[78]

Blackstone real estate funds completed the acquisition of UK hotel platform Village Hotels from KSL affiliates; at closing the company operated 33 hotels with about 4,400 rooms and offered fitness, food and beverage, and coworking facilities.⁠[79]

Emerson’s annual report records that on May 31, 2023, it sold a majority stake in Climate Technologies, whose standalone business is named Copeland, at a transaction value of $14 billion; in August 2024, it sold its remaining 40% common equity interest to Blackstone funds for $1.5 billion and sold a note receivable to Copeland for $1.9 billion.⁠[80]

Blackstone multi-strategy funds and CPP Investments signed an agreement to acquire Asia-Pacific data center platform AirTrunk at an implied enterprise value of more than A$24 billion, including capital expenditure for committed projects.⁠[81]

Oravel Stays, the parent company of OYO, completed the acquisition of G6 Hospitality, the parent company of Motel 6 and Studio 6, from Blackstone Real Estate for $525 million.⁠[82]

In a deal review, Blackstone confirmed that it had acquired AirTrunk and incorporated it into its Asia-Pacific data center investment portfolio; the transaction was executed jointly by its infrastructure, real estate, and other strategies.⁠[83]

Funds managed by Blackstone and Vista completed the acquisition of work management software company Smartsheet in a transaction valued at approximately $8.4 billion, at $56.50 per share in cash; the company was subsequently delisted.⁠[84]

Bain Capital’s private equity team signed an agreement to acquire health insurance software company HealthEdge from Blackstone-managed funds; financial terms were not disclosed.⁠[85]

Funds managed by Blackstone Infrastructure completed the acquisition of marina and superyacht services provider Safe Harbor Marinas from Sun Communities for $5.65 billion.⁠[86]

Blackstone signed an agreement to sell a minority stake in Liftoff to General AtlanticGeneral AtlanticGeneral Atlantic is a global investment firm founded in 1980 that grew out of Chuck Feeney’s family investment business. Growth equity is at its core, and through GA Credit, BeyondNetZero and Actis it also invests in credit, the energy transition and infrastructure. As of June 30, 2026, its assets under management across all strategies were about $130 billion.Open the full entry at a company valuation of $4.3 billion, with Blackstone retaining a majority stake; the announcement recalled that Liftoff and Vungle merged in 2021.⁠[87]

The Ottawa Business Journal reported, citing co-founder Rob Imbeault, that Vista and Blackstone bought out the holdings of other venture capital shareholders for approximately $400 million, in a transaction valuing the company at approximately $1.3 billion; a Vista spokesperson only confirmed that there had been a transaction involving Vista and Assent in 2024, without disclosing details.⁠[88]

Under Bain Capital ownership, HealthEdge and UST HealthProof completed their merger, with the combined company retaining the HealthEdge name and providing claims, payment, care management, and member services software to health insurers; transaction terms were not disclosed.⁠[89]

TaskUs’s third-quarter 2025 filing disclosed that the proposed take-private by Blackstone affiliates and two co-founders was not approved by shareholders; on October 9, the parties signed an agreement immediately terminating the transaction, with mutual releases of related claims and no termination fee payable by either party.⁠[90]

Blackstone-backed Medline priced its initial public offering at $29 per share, with a base offering of 216,034,482 shares totaling approximately $6.265 billion, plus an over-allotment option of up to 32,405,172 shares; net proceeds from 179,000,000 of the shares were to be used mainly to repay debt, and proceeds from the remaining base offering and over-allotment shares were to be used to repurchase or redeem certain existing holders’ interests.⁠[91][77]

The CHPE transmission project developed by Blackstone-backed TDI began commercial operation, with an approximately 339-mile underground and underwater high-voltage direct current line connecting the Canadian border with Queens, New York; the project developer disclosed that major construction was completed in January 2026.⁠[92][77]

Sony Music Publishing and Recognition jointly confirmed that, following regulatory approval, the sale of Recognition’s entire music catalog had been completed; the transaction was carried out together with a music catalog investment partnership between Sony Music Group and GIC and covers more than 45,000 works.⁠[95]

The final prospectus states an IPO price of $23 per share for 43,478,261 shares, with a base offering size of approximately $1 billion; of these, the company offered 13,782,609 shares and selling shareholders sold 29,695,652 shares. The prospectus discloses that Blackstone-affiliated entities continue to control a majority of the voting power after the offering.⁠[96]

The 2026 half-year results announcement disclosed that the acquisition proposal by a consortium controlled by Tinicum and Blackstone-affiliated funds was approved by shareholders on May 26; 10 of the 12 required regulatory approvals had been obtained, with completion expected by the end of 2026. The transaction had not closed at the time of the announcement.⁠[97]

Blackstone Real Estate Income Trust (BREIT) is a non-listed real estate investment trust. Its public terms set the total monthly repurchase limit at 2% of net asset value as of the end of the prior month and the quarterly limit at 5% of the average month-end net asset value of the prior three months, including repurchases by certain feeder vehicles for non-U.S. investors. Shares held for less than one year are generally repurchased at 98% of the transaction price for the month. The board may, in its discretion, reduce, suspend, or modify the repurchase plan, so submitting a repurchase request does not guarantee immediate liquidity.⁠[99][2]