Blackstone closed $5.6bn GP Stakes Fund II to take long-term minority investments in PE companies | AltAsunits Private Equity News


world buyout large Blackstone has held a $5.6bn ultimate shut for its 2d fund in GP stakes.

The new fund will focus on value-added, long-term minority investments in control corporations of main non-public fairness companies, the company mentioned.

Blackstone mentioned it could possibly leverage its purchasing energy of the greater than $150bn earnings base throughout its world procurement platform to assist value financial savings at portfolio corporate ranges. It too can percentage interior trade construction assets and services and products with portfolio GPs.

Mike Nash, chairman of Blackstone GP Stakes mentioned, “We have strong momentum in the GP Stakes market as we seek to invest with the most successful GPs across the private-market landscape. As long-term investors, we make it a priority to deliver Blackstone’s substantial resources and know-how to help them build enduring franchises.”

Just last week Blackstone bought into Boston-based private equity house Great Hill Partners as the newest acquire via its GP stakes funding unit.

In the summer time the investment unit bought a stake in private equity house GTCR,

Blackstone joined GTCR the month before as majority shareholders in programmatic advertising and agency management software Simpli.fi in a deal that values ​​the corporate at $1.5bn.

Blackstone was once reportedly eyeing up to $10bn last month for some of the biggest enlargement capital finances ever raised.

The transfer, which was once reported by means of Bloomberg, got here just a few months after the firm pulled in $4.5bn to close its debut fund in the strategy – the most important first-time enlargement fairness non-public fundraise in historical past.

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