Executives from Google, Blackstone, Goldman Sachs, and IBM signed a letter supporting Biden's $1.9 trillion stimulus package, CNN reported.
NNS, the investment vehicle of Egyptian billionaire Nassef Sawiris, is set to sell its 7.42% stake in Signature Aviation to a bidding consortium led by Blackstone and Global Infrastructure Partners
The top finance stories for January 28, including the latest news on the rise of Blackstone's Jon Gray.
Blacktone's Stephen Schwarzman had previously defended Trump's efforts to challenge the election results via lawsuits.
Oatly recorded $200 million in sales in 2019, and expected to double that figure to $400 million in 2020 and become profitable by 2021, a report said.
At least four major private equity (PE) giants are reportedly in a race to acquire a controlling stake in Mphasis, the Bengaluru-headquartered IT services company that was bought by the Blackstone Group in 2016.A buyout of Blackstone’s 56.16% stake in Mphasis would signify Blacksone’s biggest payday in India.The Mphasis acquisition cost c. $1.1bn - the largest investment Blackstone had made in the country.The deal has paid off handsomely for the world’s largest PE firm, with Mphasis having seen its share price rallying nearly 66% in the past year and 3x since 2016.What does Mphasis do and how did Blackstone turnaround its prospects after acquiring it?Hit link to read:https://transfin.in/blackstone-stake-in-mphasis-up-for-grabs-as-pe-giant-mulls-exit
Two top Morgan Stanley commodities players leave; JPMorgan aims to double its financial advisor ranks; why data centers are a hot real-estate play.
We spoke with Blackstone president Jon Gray, headhunters who recruit for the firm, and its global head of HR to learn what it takes to stand out.
The billionaire co-founder of Blackstone said that the rapidly growing"digital revolution" will continue to support technology companies.
Rising interest rates and economic headwinds may dent earnings and make equity returns "anemic", says Blackstone's executive vice chairman Tony James.
Zumper's brokerage arm screened out low-income renters with Section 8 vouchers looking for apartments and houses in Chicago and New York, sources say.
Wien also said that the recent market sell-off was just a pullback from what is a "strong recovery market."
Activists have called out Oatly's decision to partner with Blackstone, which partially owns two firms linked to Amazon deforestation.
Private-equity giant Blackstone just hired an Amazon Web Services exec in an effort to scout out tech deals.
Christine Feng, a director in corporate development at AWS, joins Blackstone as senior managing director, three months after Blackstone poached another tech-focused dealmaker, Vini Letteri, from KKR. Both staff the firm's San Francisco office.
Blackstone's head of tactical opportunities, Chris James, laid out why the firm is doubling down on tech, an area that's proven resilient throughout the pandemic.
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Private-equity giant The Blackstone Group has hired a dealmaker from Amazon Web Services to scout out tech opportunities in Northern California, in a sign that Wall Street's large investors are looking to better compete in an area traditionally dominated by specialty players.
Of all the industries that have been slammed by the pandemic, tech is one that's stayed relatively resilient, and private-equity executives have told Business Insider to expect to see a greater focus on investing there, specifically in software companies.
Chris James, the head of Blackstone's tactical opportunities group — a unit designed to quickly deploy capital in special situations — shared with Business Insider that the firm has brought onboard Christine Feng, a director in corporate development at AWS who previously worked in a similar role at Microsoft.
"We are aggressively growing our Northern California presence," said James, calling Feng a "key anchor."
At AWS, Feng was responsible for mergers and acquisitions, from sourcing to execution. And at Microsoft, where she worked between 2010 and 2016, she held another dealmaking position as a senior member of its corporate development team, executing acquisitions and divestitures across all of Microsoft's business units, according to her biography.
James said that Blackstone had approved the position toward the end of last year, pre-COVID, and that the firm had sought to add an executive with expertise and relationships in the tech community, which could translate to deal origination and execution.
"Needless to say, the tech sector is quite broad and growing and there is nothing that is not touched by technology," James said.
"We are trying to do deals — and a lot of those deals, at their core, touch on technology."
Some of the deals that have marked Blackstone's expansion in the tech sector include its investment in dating app Bumble owner MagicLab, as well as the financial-data company Refinitiv, which announced plans to merge with with the London Stock Exchange last year.
Read more: We talked to a dozen insiders about Jon Korngold, the investor driving Blackstone's big push into backing fast-growing companies like Bumble
But Blackstone, with more than $560 billion in assets under management, is best known for its real-estate, credit and general private-equity investing, with portfolio companies spanning hotels, parks, and warehouse storage. Historically, the most prominent tech investors have been specialty players, like Silver Lake, Vista Equity Partners and Providence Equity Partners.
Other recent tech investments from Blackstone include Ultimate Software, a cloud-based human resources applications developer, HealthEdge, administrative software for health insurers, mobile ad company Vungle and 21Vianet, a data-center services firm.
"Digital infrastructure is a big theme for us in tac opps," said James.
"We have done a couple of data center and fiber deals, all of which are the underpinnings of this data revolution and people's demand for better information."
By expanding in the area, Blackstone joins other large investors in the pursuit of tech assets at a time when digital operations seem to be among the wisest bets, as the pandemic clouds the financial prospects of physical, in-person businesses.
The Carlyle Group, for instance, is another large firm that has been active in tech lately, having taken data company ZoomInfo public last month, raising $935 million, and selling off Eggplant, a provider of AI software, to Keysight Technologies.
As for Blackstone, its size will be a key part of the pitch.
"We want to be able to go to companies and say listen, we have capital and we have a lot of resources. That capital can come in the form of credit, structured equity, we can buy you out completely or do a minority deal. We have it in all shapes and sizes," said James.
In joining Blackstone, Feng will work across the firm's tactical opportunities and credit divisions. She will be based out of San Francisco, and is coming aboard just three months after the firm added another tech-focused dealmaker in the region: Vincent Letteri, who joined from KKR in May. Previously, Letteri had worked on operations at KKR portfolio company First Data.
"We want her opinion and feedback and bringing that tech perspective," said James, "Telling us, how would Amazon Web Services, Microsoft or Google think about this company or trend?"SEE ALSO: Meet the 4 dealmakers driving Blackstone's $325 billion commercial real estate portfolio. They walked us through how they're thinking about opportunities in the downturn.
SEE ALSO: 40 insiders reveal the meteoric rise of Silver Lake's Egon Durban, the tech-focused PE firm's No. 1 dealmaker who strong-armed his way to the top and is about to get $18 billion more to invest
SEE ALSO: We talked to a dozen insiders about Jon Korngold, the investor driving Blackstone's big push into backing fast-growing companies like Bumble
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Selection of Xiaomi products is already almost enough to fully supply your household with more or less everything needed and the portfolio still keeps expanding.Not that long ago they have released in their ecosystem a very interesting 3D shaver Enchén under the umbrella of crowdfunded Youpin products, but now it’s time to get an upgrade.And well the new Xiaomi Enchén BlackStone 3 looks even better and you can still get it for a very good price, for example from Ebay.So let’s take a quick look.Xiaomi Enchén BlackStone 3 resembles in many way its predecessor so you can once again expect an electric shaver with three independent 3D shaving heads with dual-ring blade net for perfect shave.On top of that you are getting ESM smart shaving system against the beard getting stuck, 5W strong motor with just 67dB low noise operation, IPX7 waterproof rating for fully washable product, support for both wet and dry shaving, 150 minute long running time on a battery charge, USB Type-C charging, battery capacity display and travel lock function.
Bumble, the popular and profitable dating and networking app built around the ethos of women calling the shots on how connections get made and developed, has made a deal for some independence of its own, and its founder, Whitney Wolfe Herd, is coming out of it as CEO of an even bigger dating empire.Andrey Andreev, the founder of Badoo, the controversial London-based company that owns a series of dating apps and was the main backer and builder of Bumble, is selling his entire stake in MagicLab, the company that owned both Bumble and Badoo (and other dating apps), to Blackstone.Blackstone is world-class at maximizing the success of entrepreneur-led companies, which presents a tremendous opportunity.I will strive to lead the group with a continued values-based and mission-first focus, the same one that has been core to Bumble since I founded the company five years ago.We will keep working towards our goal of recalibrating gender norms and empowering people to connect globally, and now at a much faster pace with our new partner.”Bumble is consistently in the top 10 of lifestyle apps in the U.S., according to App Annie data.
Fresh from its gargantuan $300 million series D funding round, Automattic announced that it has hired a new chief financial officer (CFO) as part of a plan to generate “tens of billions” of dollars in revenue.The WordPress.com parent has lured Mark Davies away from his CFO role at Blackstone-owned smart home company Vivint, which announced yesterday that Davies was moving on.“As we zoom past 1,100 employees in over 70 countries, we wanted a financial leader with experience taking businesses from hundreds of millions in revenue to billions and even tens of billions, as Mark has,” said Automattic CEO and founder Matt Mullenweg in a statement emailed to VentureBeat.The company added that existing CFO Stuart West, who has been in the role since 2012, will remain at Automattic in a new position.This suggests the transition is amicable on all sides and that the company just needs a change to move to the next level.“He [West] built a talented finance team during a period of 10 times growth in staff and revenue and played an essential role in the success of our company,” Mullenweg added.
This story requires our BI Prime membership.To read the full article, simply click here to claim your deal and get access to all exclusive Business Insider PRIME content.Tony James, Blackstone's executive vice chairman, has invested $1.25 million via his family office, Jefferson River Capital, in the seed round of a startup directed at disrupting retirement plans.The Nashville-based Alto makes it easier to put retirement savings in alternative assets such as startups, private companies, and real estate.Click here for more BI Prime stories.
To read the full article, simply click here to claim your deal and get access to all exclusive Business Insider PRIME content.Matt Katz, hired from Point72 Asset Management in 2015, heads up data scientists who work with the firm's dealmakers.Data insights help create opportunities and avoid mistakes, said Patrick Davitt, an analyst at Autonomous Research who covers KKR.Private equity giant KKR has hired Northwestern Mutual's chief technology officer to develop ways for the firm to scour data for investment ideas.Emilia Sherifova will be based in New York and have the title "chief information and innovation officer," a broader role than her predecessor.She replaces CIO Ed Brandman, who retired in December after 11-1/2 years at KKR.
Private equity firm Blackstone has reached a deal to acquire the in-app advertising platform Vungle.The deal, announced Monday by the companies, will expand Vungle’s presence in the mobile gaming space.According to CEO Rick Tallman, selling to Blackstone will allow the company to “further accelerate Vungle’s mission to be the trusted guide for growth and engagement, transforming how users discover and experience mobile apps.”Terms of the acquisition were not disclosed, but a person familiar with the deal said Blackstone paid $750 million in cash.As a part of the deal, Vungle also reached an undisclosed settlement agreement with co-founder Zain Jaffer, who filed a wrongful termination lawsuit against the company in March.Vungle fired Jaffer in 2017 soon after he was arrested on charges that were later dropped.