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Laxman Pai, Opalesque Asia: The U.S. private equity giant Blackstone Group Inc. is taking a stake in a smaller European rival BC Partners, which has $27bn under management.
Blackstone Alternative Asset Management (BAAM)'s Strategic Capital Group is investing $560m in BC Partners for a 10% to 15% stake, according to a WSJ report. Specific terms of the transaction were not disclosed.
BC Partners, which is specializing in buyouts and acquisitions financing in Europe and the United States, said in a press release that investment will provide BC Partners with increased balance sheet capital to further invest in its business and expand its capabilities in line with the needs of the firm's investors.
Most recently, BC Partners launched a real estate business and established a private credit platform to expand on its private equity business.
Raymond Svider, Partner and Chairman of BC Partners, said, "This investment is a testament to the growth and institutionalization of our business, and will enable us to take the Firm to the next level for the benefit of our investors. We look forward to leveraging Blackstone's best-in-class resources and exceptional talent as we look to expand and strengthen our platform across our three key verticals."
Scott Soussa, Head of BAAM's Strategic Capital Group, said, "BC Partners has a three-decade track record investing across sectors and geographies. This, combined with the strength of their people and processes, ...................... To view our full article Click here
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