Page 2 - Blackstone

Blackstone-backed ASK gets Sebi approval to enter mutual fund business

Blackstone-backed ASK Asset & Wealth Management Group on Friday said it has received an in-principle approval from the markets regulator Sebi to start its mutual fund business. This development marks a significant step in ASK's expansion plans. The mutual fund offering will complement ASK's existing suite of investment solutions, which cover listed equity portfolio management, and wealth management, providing a broader range of opportunities for investors across segments. "We have received in-principle approval for entering the mutual fund business. India's investment landscape is evolving rapidly, and we see a tremendous opportunity to bring our research-driven, client-centric investment approach to a wider audience. "We are confident that with ASK's deep-rooted expertise and commitment to long-term wealth creation, and with our legacy of trust and performance, we will be able to offer differentiated products that cater to the diverse needs of investors. We look forward to ...

Blackstone floats open offer to acquire up to 26% in Kolte-Patil Developers

Global investment firm Blackstone has launched an open offer to acquire up to 26 per cent stake in Pune-based realty firm Kolte-Patil Developers Ltd from public shareholders for Rs 758.56 crore. Last week, Kolte-Patil Developers announced that Blackstone would acquire a 40 per cent stake in the company for Rs 1,150 crore, entering into Indian residential market after having a significant exposure in office, shopping mall, warehousing and date centre verticals of real estate. Blackstone affiliated firm will acquire a 14.3 per cent stake for Rs 417 crore through a preferential issue of equity shares and another 25.7 per cent stake from the promoters group for Rs 750 crore. In a regulatory filing on Monday, Kolte-Patil Developers informed that Blackstone Group affiliated firm BREP Asia III India Holding Co VII Pte Ltd together with Blackstone Real Estate Partners Asia III L P and Blackstone Real Estate Partners (Offshore) X.TE-F (AIV) L P have launched an open offer for acquisition of

Blackstone offers $1.2 billion for AkzoNobel's India paint business

Transaction expected to cost around $1.2 billion, say bankers

Blackstone to acquire 40% stake in Kolte-Patil Developers for Rs 1,166 cr

Kolte-Patil builds residential, commercial projects and has a presence in Pune, Bengaluru and Mumbai

India well placed to tackle Trump's tariff volleys: Blackstone CEO

Blackstone to invest $100 bn in India in future

South City Mall-Blackstone deal speculative, no urgency: Consortium partner

A major shareholder of South City Projects, the consortium behind Kolkata's iconic South City Mall, has downplayed recent reports of a potential USD 400 million deal with alternative asset manager Blackstone, describing it as "speculative". South City Projects is a consortium of prominent real estate developers like Merlin Group, Sureka Group, Emami Group, Park Chambers Group, and Shrachi Group. South City Mall is its flagship project. "It has been receiving offers from various funds, including Blackstone, Brookfield, Canadian Pension Fund, and Singapore's Temasek since 2020," a significant consortium partner who wished not to be quoted told PTI. "We have not approached anyone. Offers poured in from various funds and we have been evaluating those as part of our normal business practice. But it would be incorrect to assume that South City Projects is under any urgency to clinch a deal or that the company is in unmanageable debt," the consortium partner said. The shareholder emphasis

Knowledge Realty posts Rs 1,632 cr NOI in H1 FY25, set to be largest REIT

Sattva Group and Blackstone sponsored Knowledge Realty Trust has posted a net operating income of Rs 1,632.38 crore in the first half of this fiscal while its asset value stood at nearly Rs 60,000 crore at September-end 2024. On Thursday, Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch its REIT public issue for raising up to Rs 6,200 crore. The company will issue units through Initial Public Offer (IPO) and list the REIT on stock exchanges as part of its strategy to monetise prime office assets across six major cities. "We own and manage a high-quality office portfolio in India, and upon listing, we will be the largest office REIT in India based on Gross Asset Value of Rs 594,450 million as of September 30, 2024 as well as by Net Operating Income (NOI) for H1, FY25 of Rs 16,323.82 million, and the second largest by NOI for 2023-24 of Rs 28,820.83 million," KRT said in theHP. The Trust said it will also be the second largest office REIT

India's largest REIT IPO: Blackstone, Sattva Developers file DRHP with Sebi

The Trust, which is a joint venture between the Sattva Group and Blackstone, in its draft red herring prospectus (DRHP) said that it aims to raise up to Rs 6,200 crore from the public offering

Blackstone-Sattva JV file draft Papers for Rs 6,200 crore Reit IPO

This will be India's biggest and Asia's second-largest Reit IPO

Sattva Group, Blackstone-backed trust files for ₹6,200 cr REIT public issue

Knowledge Realty Trust, sponsored by real estate company Sattva Group and Blackstone, on Thursday filed initial documents with market regulator SEBI to launch its maiden REIT public issue to raise more than Rs 6,200 crore. Knowledge Realty Trust (KRT) has filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch Initial Public Offering (IPO) and list the REIT on stock exchanges, as part of its strategy to monetise its 30 prime office assets across major cities. KRT will be the largest REIT in India in terms of Net Operating Income (NOI) and Gross Asset Value which is estimated at around Rs 60,000 crore. KRT plans to raise around Rs 6,200 crore through REIT-IPO, according to its DRHP. At present, there are four listed REITs in India -- Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Apart from Nexus Select Trust, the other three REITs are backed by rent-yielding office assets. Nexus owns a large portfolio

High valuation amid mkt fall delays Haldiram deal; Blackstone exits race

Blackstone, an American private-equity firm, has backed off, citing a high valuation, according to bankers

Equity firm PAG considering sale of $1.2 billion stake in India's Nuvama

Blackstone Inc.-backed PAG is working with financial advisers on a strategic review of its more than 54 per cent stake in the Indian wealth manager

Indorama Ventures to buy minority stake of 25% in EPL from Blackstone

The deal, priced at Rs 240 per share, is expected to close in the coming months

EPL shares decline 8% after Blackstone to sell 24.9% stake to Indorama

"Pursuant to the definitive agreements, INBV will acquire a minority stake of 24.9 per cent of EPL from Blackstone at a purchase price of Rs 240 per share," the filing read

PE giant Blackstone joins race to acquire Akzo Nobel paints business

While JSW Group is not expected to make an aggressive offer, Kolkata-based Berger Paints has already dropped out of the race citing high valuation

NaBFID extends Rs 2,000 crore loan to Blackstone-backed data centre

A senior executive with a public sector lender said NaBFID, a government-owned infrastructure financier, has extended a loan (construction finance)

Blackstone Q4 profit surges as dealmaking gathers momentum, shares up 2.5%

Blackstone's fee-related earnings jumped 76 per cent to a quarterly record of $1.84 billion

Blackstone to invest $11 bn in Maharashtra to develop infra, data centers

Blackstone signed three agreements with the Maharashtra govt at the World Economic Forum in Davos. It plans to develop office complexes, hotels, malls, and warehouses in the Mumbai 3.0 region

Blackstone expects $3 billion in sale of Bob Dylan, Adele song rights

A handful of financial firms, including Apollo Global Management Inc., Warburg Pincus LLC and Temasek Holdings Pte, Singapore's state-owned investment firm, have expressed interest in the assets

Blackstone gets CCI nod to acquire stakes in two Bagmane Group entities

The Competition Commission of India (CCI) on Tuesday said it has cleared Blackstone's arm BREP Asia III India Holding Co VIII's proposed acquisition of stakes in Bagmane Developers and Bagmane Rio. US-based Blackstone is the world's largest alternative asset manager, with more than USD 1 trillion in assets under management (AUM). "The proposed combination involves the acquisition of certain stake in the Bagmane Developers and Bagmane Rio (Target entities) by BREP Asia III India Holding Co VIII (Acquirer)," CCI said in a release. Bagmane Developers and Bagmane Rio are engaged in the business of development, leasing and operation of commercial real estate, hospitality business as well as allied services such as generation of renewable power. "Commission approves the acquisition of certain stake in Bagmane Developers Pvt Ltd and Bagmane Rio Pvt Limited by BREP Asia III India Holding Co VIII Pte Ltd," the regulator said. In a separate release on Tuesday, CCI said it approved the propo