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Laxman Pai, Opalesque Asia:

The New York private-equity giant Blackstone Group acquired a minority stake in Chicago private-equity firm GTCR.

Blackstone acquired the ownership stake through its Blackstone Strategic Capital Holdings GP Stakes business, which "specializes in value-added, long-term partnerships" with private market alternatives managers.

The deal will give companies GTCR owns "access to Blackstone's group purchasing program, which leverages the buying power of the $150 billion revenue base across Blackstone's entire investment platform," a press release said.

GTCR will also have access to a wide range of other services Blackstone provides internally and to its portfolio companies that leverage Blackstone's scale and expertise, including its ESG, sustainability, human capital management, cybersecurity, and product development capabilities, it said.

GTCR is a growth-oriented private equity firm with a management-driven approach and business-building investment orientation. In 2020, GTCR closed on its thirteenth equity fund, GTCR Fund XIII, with $7.5 billion of limited partner capital commitments.

"We are thrilled to have this opportunity to work with Blackstone as a passive minority investor in our firm," GTCR's Collin Roche and Dean Mihas said in the release on behalf of the firm's managing directors.

"Blackstone is an exceptional institution and we expect they will bring resources and perspective that will help us as we continue to serve ou......................

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