ICM's first private equity fund will be fully diversified across asset classes and geographies.

The New York City-based global investment firm says it will begin operating as a corporation effective July 1. The firm also reported its first quarter financial results that indicated Blackstone's assets under management now exceeds $512 billion, up 14% year over year.

Initial plans for the property in northern Baltimore County include further redevelopment of the former two-story Sears building and auto center located behind Wegmans.

The Treasury Department clarified that leasing can meet the act of conduct requirement of a business.