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Komfie Manalo, Opalesque Asia:

Investment giant Blackstone Group said that its Blackstone's Strategic Capital Holdings Fund has acquired a passive, minority equity stake in Boston-based global real estate investment management firm Rockpoint for an undisclosed amount.

Rockpoint co-founder Keith Gelb said he welcomed his firm's partnership with Blackstone describing both companies as sharing a strong commitment to excellence and integrity, adding that they have respect for Blackstone's business and the brand it has established across asset classes.

"This permanent capital investment by Blackstone is a testament to our team and investment programs. It will further strengthen our firm while preserving its entrepreneurial culture.", added Rockpoint co-founder Bill Walton.

Blackstone's Strategic Capital Holdings Fund, a permanent capital vehicle which specializes in acquiring long term interests in leading alternative asset managers, is managed by Blackstone Alternative Asset Management (BAAM), the firm's hedge fund solutions business.

The head of BAAM's Strategic Capital Group Scott Soussa, commented, "We are delighted Rockpoint chose Blackstone as its strategic partner. Rockpoint's record of success, experienced team of professionals, extensive industry relationships and disciplined fundamental value investment approach set the firm apart and make this an especially exciting investment opportunity for Blac......................

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