38 Facts About Blackstone Inc

1.

Blackstone Inc is an American alternative investment management company based in New York City.

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2.

In 2019, Blackstone Inc converted from a publicly traded partnership into a C-type corporation.

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3.

The founders named their firm "Blackstone Inc, " using a cryptogram derived from the names of the two founders .

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4.

Blackstone Inc was originally formed as a mergers and acquisitions advisory boutique.

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5.

Blackstone Inc finalized fundraising for its first private equity fund in the aftermath of the October 1987 stock market crash.

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6.

In June 1989, Blackstone Inc acquired freight railroad operator, CNW Corporation.

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7.

That same year, Blackstone Inc partnered with Salomon Brothers to raise $600 million to acquire distressed thrifts in the midst of the savings and loan crisis.

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8.

In 1990, Blackstone Inc launched its hedge funds business, initially intended to manage investments for Blackstone Inc senior management.

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9.

That same year, Blackstone formed a partnership with J O Hambro Magan in the UK and Indosuez in France.

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10.

In 1991, Blackstone Inc created its Europe unit and launched its real estate investment business with the acquisition of a series of hotel businesses under the leadership of Henry Silverman.

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11.

Silverman would ultimately leave Blackstone Inc to serve as CEO of HFS, which would later become Cendant Corporation.

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12.

Also, in 1996, Blackstone Inc partnered with the Loewen Group, the second largest funeral home and cemetery operator in North America, to acquire funeral home and cemetery businesses.

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13.

In 1995, Blackstone Inc sold its stake in BlackRock to PNC Financial Services for $250 million.

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14.

In 1997, Blackstone Inc completed fundraising for its third private equity fund, with approximately $4 billion of investor commitments and a $1.

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15.

In 1999, Blackstone Inc partnered, together with Apollo Management to provide capital for Allied Waste's acquisition of Browning-Ferris Industries.

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16.

Blackstone Inc brought in five professionals, led by Howard Gellis from Nomura Holding America's Leveraged Capital Group to manage the business.

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17.

In October 2000, Blackstone Inc acquired the mortgage for 7 World Trade Center from the Teachers Insurance and Annuity Association.

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18.

Blackstone Inc serves on the firm's executive and management committees, and its board of directors.

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19.

TRW's parent was acquired by Northrop Grumman, while Blackstone Inc purchased its automotive parts business, a major supplier of automotive systems.

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20.

Blackstone Inc purchased a majority interest in Columbia House, a music-buying club, in mid-2002.

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21.

Blackstone Inc made a significant investment in Financial Guaranty Insurance Company, a monoline bond insurer alongside PMI Group, The Cypress Group and CIVC Partners.

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22.

Two years later, in 2005, Blackstone Inc was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $11.

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23.

In December 2008, Blackstone Inc announced that Kailix would be spun off to its management team to form a new fund as an independent entity backed by Blackstone Inc.

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24.

Blackstone Inc acquired Prime Hospitality and Extended Stay America in 2004.

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25.

In 2004, Blackstone Inc had explored the possibility of creating a business development company, Blackridge Investments, similar to vehicles pursued by Apollo Management.

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26.

However, Blackstone Inc failed to raise capital through an initial public offering that summer and the project were shelved.

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27.

In 2007, Blackstone Inc acquired Alliant Insurance Services, an insurance brokerage firm.

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28.

In January 2008, Blackstone Inc made a small co-investment alongside TPG Capital and Apollo Management in their buyout of Harrah's Entertainment, although that transaction had been announced during the buyout boom period.

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29.

In December 2009, Blackstone Inc acquired Busch Entertainment Corporation from Anheuser-Busch InBev for $2.

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30.

In November 2013, Merlin Entertainments, owned in part by Blackstone Inc Group, became a public company via an initial public offering on the London Stock Exchange.

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31.

Blackstone Inc operates through four primary departments: private equity; real estate; hedge funds; and credit.

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32.

Blackstone Inc has primarily relied on private equity funds, pools of committed capital from pension funds, insurance companies, endowments, fund of funds, high-net-worth individuals, sovereign wealth funds, and other institutional investors.

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33.

From 1987 to its IPO in 2007, Blackstone Inc invested approximately $20 billion in 109 private equity transactions.

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34.

In 2012, Blackstone acquired a controlling interest in Utah-based Vivint, Inc, a home automation, security, and energy company.

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35.

Part of the purchase involved splitting the business into a property company, NHP, and a nursing home business, which Blackstone Inc claimed would become "the leading company in the elderly care market".

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36.

In 1990, Blackstone Inc created a fund of hedge funds business to manage internal assets for Blackstone Inc and its senior managers.

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37.

In March 2008, Blackstone Inc acquired GSO Capital Partners, a credit-oriented alternative asset manager, for $620 million in cash and stock and up to $310 million through an earnout over the next five years based on earnings targets.

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38.

Blackstone Inc is a member of the Real Estate Roundtable, a special interest group which spends millions on lobbying and political donations every year.

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