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Alternative Market Briefing

Blackstone racks up $5.6bn for second GP stakes fund

Wednesday, November 24, 2021

Laxman Pai, Opalesque Asia:

American alternative investment management company Blackstone announced the final close of Blackstone Strategic Capital Holdings II (BSCH II) at $5.6 billion.

According to a news release from the New York-based investment and advisory firm, the commingled fund specializes in value-added, long-term minority ownership interests in the management companies of private equity firms.

Among the investments, the Blackstone GP Stakes business has made this year so far are minority stakes in private equity firms Great Hill Partners, GTCR, and Sentinel Capital Partners, the news release said.

Mike Nash, Chairman of Blackstone GP Stakes said, "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."

Mustafa M. Siddiqui, Head of Blackstone GP Stakes said, "We are thrilled with the positive response we received from a diverse group of limited partners. This is a strong recognition of Blackstone's unique value proposition in the GP Stakes market and the rigorous approach our team brings to identifying and investing behind great firms."

Investors in Blackstone Strategic Capital Holdings II include the $94.1 billion Michigan Retirement Systems, Lansing; the $40 billion Texas Permanent School Fund, Austin; and the East Lansing-b......................

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