Blackstone’s headquarters in Midtown Manhattan
NEW YORK—Blackstone Alternative Asset Management has acquired a stake in BC Partners, a rival international private equity firm. The companies did not disclose the investment but the Wall Street Journal has reported, based on sources, that it is investing $560 million for a 10% to 15% stake.
The investment was made by BAAM’s Strategic Capital Group, the team that specializes in minority partnerships with alternative asset managers.
Most recently, BC Partners, which has focused on European-US buyouts, launched a real estate business and established a private credit platform to expand on its private equity business—the investment from Blackstone will be used to expand these and other capabilities of the company. BC partners is also preparing to begin raising a new flagship private-equity fund, according to the Journal.
Evercore acted as financial advisor to BC Partners. Simpson Thacher & Bartlett served as legal counsel to BC Partners and Kirkland & Ellis LLP served as legal counsel to Blackstone.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
