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...The deficit underscores risks for tens of thousands of individual investors who have ploughed money into the unlisted property fund, Blackstone’s first product for wealthy retail investors....
...The fund is poised to be Blackstone’s most complex product yet....
...Hatton said the subdued hotel investment volumes in the UK were “not a result of lack of interest”, but “minimal product brought to market”....
...There is scope for growth in infrastructure, insurance and retail products for Blackstone. But questions about maturity is one for the crystal ball....
...This week, Blackstone announced that its latest retail product, BXPE, had initially raised more than $1bn....
...The fund is poised to be Blackstone’s most complex product yet, blending the group’s private equity strategies including traditional buyouts and those targeting biotechnology companies to preferred equity...
...Blackstone still owns just under a fifth of the company, according to people close to the firm....
...Third, financial product innovation is a vital enabler....
...Blackstone’s Stephen Schwarzman saw his holdings increase the most, gaining over $12bn in value....
...Skilled salespeople exist in alternatives, executives say, but often they are at larger managers with popular products such as Blackstone....
...In today’s newsletter: Blackstone’s private credit problem General Atlantic’s secondaries push Mallinckrodt’s messy bankruptcy The private credit deal that could cost Blackstone €200mn Last month, Blackstone...
...Blackstone and Canadian pension fund CPPIB teamed up with Kirkbi on the £6bn take-private bid in 2019....
...Here’s how Blackstone responded. 4....
...Bank of England governor Andrew Bailey said that data on gross domestic product, to be published at 7am on Thursday by the Office for National Statistics, could go “either way”....
...Patrick Dwyer, a managing director at Newedge Wealth Management, said: “Walk into any private bank in the world and ask if they have Blackstone products and they will....
...Blackstone’s Steve Schwarzman noted last year that lending at 12 per cent on a senior secured basis was easy money. Traditional bank lending, however, retains advantages....
...It was an early mover in creating and selling perpetual “retail” funds that put Blackstone products in the hands of tens of thousands of wealthy individuals worldwide, though the push has come with big growing...
...EQT recently struck a large deal to acquire family-owned Heritage Environmental Services, which handles waste and industrial by-products from chemical plants, pipelines, rare earths manufacturing and semiconductors...
...Blackstone’s leaders Stephen Schwarzman and Jonathan Gray have been tantalised by the opportunity to sell Blackstone products to “retail” investors with almost no exposure to private markets....
...Advent, Blackstone, CVC and EQT declined to comment....
...Private capital groups have swept into life insurance since the financial crisis, with firms as big as Apollo, Blackstone and KKR either acquiring life insurers — providers of annuities and other products...
...A year ago, Blackstone’s Stephen Schwarzman even went on NBIM chief executive Nicolai Tangen’s podcast to talk about “what it takes”....
...When Blackstone Group’s GSO unit started pulling some delightful shenanigans people feared the end was nigh. Not any more!...
...“The reason why folks are using these different terms is that the traditional middle market has changed,” says Jerry DeVito, head of structured products at Blue Owl, a big private credit firm....
...I generally object to these attention-seeking, limited-edition product launches....
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