Investments
The 1990s witnessed the group's international development. In 1990 Blackstone established partnerships in the United Kingdom and France (with Indosuez, now Crédit Agricole Corporate and Investment Bank). A European cell was created in 1991 to promote the group internationally. At the same time, Blackstone also continues to diversify, with the creation of funds of funds, specialized in pension funds and the beginning of real estate activity. In fact, the group made several major acquisitions, including the Ramada and Howard Johnson hotel chains in 1990 and Days Inn in 1991. In 1993, Blackstone purchased the Super 8 Motels chain.
In the 2000s, the group became a major player in the field of leisure parks with the acquisition of several park chains, such as the Legoland theme park in 2005, but above all with the purchase of:
Blackstone thus became the main competitor of The Walt Disney Company and its subsidiary Walt Disney Parks and Resorts throughout the world. This rivalry was most pronounced in Florida, where the group owned all of Walt Disney World Resort's main parks, including Universal Orlando Resort, following a partnership with NBC Universal. On June 7, 2011, Blackstone sold its stake in NBC Universal, which shelled out $1 billion to become the sole shareholder of Universal Orlando Resort.[6].
Blackstone is famous in Spain for occupying a central place in national real estate speculation. The fund owns 30,000 homes that it controls through its SOCIMIs, having already become the "main landlord" in the country.[7] In 2013 Blackstone was involved in a controversial dispute with the Madrid City Council governed by Ana Botella, the consequences of which are still unfolding. Blackstone acquired a park of 1,860 homes, 1,797 parking spaces and 1,569 publicly owned storage rooms for a lower than nominal value.[8] This vulture fund has had a notable influence on the rental situation in Spain, portrayed both by public organizations such as the Spanish Youth Council in its emancipation reports[9] and by groups such as the Platform for People Affected by Mortgages, which have denounced the speculative oligopoly carried out by Blackstone.[10][11] Blackstone managed to double the price of rents in the city of Madrid in a period of just three years, affecting the intensification of speculative practices.[12].
In September 2015, Blackstone acquires the property fund Strategic Hotels & Resorts for $6 billion.[13].
In January 2016, Blackstone Real Estate Partners VIII L.P. acquired BioMed Realty Trust for $8 billion.[14].
In February 2016, Blackstone sold four office buildings to Douglas Emmett for $1.34 billion.[15].
In April 2016, Blackstone acquired Hewlett-Packard Enterprise's 84% stake in Indian IT services company Mphasis.[16].
On January 4, 2017, Blackstone acquired SESAC, a music rights organization.[17].
On February 10, 2017, Aon PLC agreed to sell its human resources outsourcing platform for $4.3 billion to Blackstone Group L.P.,[18] creating a new company called Alight Solutions.[19].
On June 19, 2017, Blackstone acquired a majority stake in The Office Group, valuing the company at $640 million.[20].
In July 2017, the company announced an investment in Leonard Green & Partners.[21].
In January 2018, the company acquired Pure Industrial, a Canadian real estate investment trust for C$2.5 billion.[22].
In January 2018, the company announced an agreement to acquire 55% of Thomson Reuters' Finance and Risk unit for $20 billion.[23].
In March 2018, Blackstone Real Estate Income Trust, Inc. acquired a 20 million m² industrial property portfolio from Cabot Properties for $1.8 billion.[24][25].
In March 2018, Blackstone's Strategic Capital Holdings Fund invested in Rockpoint Group.[26].
In March 2018, the company's Strategic Capital Holdings Fund announced an investment in Kohlberg & Company, a private equity firm.[27].
In April 2018, Blackstone purchased the Cirsa gaming group, parent of the Sportium betting house among other companies, in an operation valued at 2,000 million euros and which also included the group's debt.[28].
In September 2018, the company acquires control of Luminor Bank in the Baltics.[29].
In October 2018, Blackstone launched Refinitiv, the company resulting from its January deal for a 55% stake in the Thomson Reuters Financial and Risk business.[30].
In October 2018, Blackstone announced its purchase of Clarus. The deal includes assets worth $2.6 billion.[31].
In March 2019, Blackstone acquired a minority stake in YES Network.[32].
In April 2019, Blackstone acquired a majority stake in tube packaging company Essel Propack for $310 million.[33][34].
In June 2019, Blackstone announced that it had partnered with the Canada Pension Plan Investment Board and KIRKBI to buy Merlin Entertainment, the owners of Legoland in a deal worth £5.9 billion. This would be the second time that Blackstone would own the company, having previously purchased it in 2005.[35].
On July 15, 2019, Blackstone announced plans to acquire Vungle, a leading mobile performance marketing platform.[36].
In September 2019, Blackstone announced the agreement to purchase a 65% majority stake in Great Wolf Resorts from Centerbridge Partners. They plan to form a joint venture worth $2.9 billion or more.[37].
On November 8, 2019, Blackstone Group acquired a majority stake in MagicLab, the owner of the dating app Bumble.[38].
On November 15, 2019, Blackstone Group invested $167 million in Future Lifestyle Fashions Ltd.'s holding company, Ryka Commercial Ventures Pvt. Ltd.[39].
On November 18, 2019, Blackstone Real Estate Income Trust, Inc. acquired the Bellagio resort "Bellagio (hotel and casino)") in Las Vegas, from MGM Resorts in a sale and leaseback transaction.[40].
On November 25, 2019, Reuters reported that Blackstone planned to invest $400 million in a joint venture with Swiss pharmaceutical company Ferring. The joint venture will work on gene therapy for bladder cancer. The investment represents Blackstone Group's largest investment in drug development to date.[41].
In March 2020, Blackstone announced that it would purchase a majority stake in HealthEdge, a healthcare software company.[42] The deal worth $700 million was completed on April 13, 2020.
In July 2020, Blackstone invested US$200 million in Swedish oat milk brand, Oatly, for a 7% stake in the company, sparking outrage among some segments of its customer base.[43][44].
In August 2020, Blackstone announced that it would purchase a majority stake in Ancestry.com for $4.7 billion (including debt).[45].
In August 2020, Blackstone acquired Takeda Consumer Healthcare for $2.3 billion.[46].