Blackstone Inc.
Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate across the globe. Blackstone is also active in credit, infrastructure, hedge funds, secondaries, growth equity, and insurance solutions. As of May 2024, Blackstone has more than US$1 trillion in total assets under management, making it the largest alternative investment firm globally.
Some of the key events about Blackstone Inc.
- 1985Founded as a mergers and acquisitions advisory boutique
- 1987Completed its first major acquisition, CNW Corporation
- 1988Faced criticism for aggressive takeover tactics in its early years
- 1992Launched its first private equity fund with $850 million
- 1994Acquired a stake in Republic Family of Funds, marking its entry into mutual funds
- 2007Completed its initial public offering, raising $4.13 billion
- 2007Accused of contributing to the subprime mortgage crisis through its real estate investments
- 2008Criticized for large executive bonuses during the financial crisis
- 2009Acquired Busch Entertainment Corporation, including SeaWorld parks
- 2010Investigated by the SEC for disclosure and marketing practices
- 2012Launched Blackstone Rental Housing, investing in single-family homes for rent
- 2012Sued by the U.S. Department of Justice for alleged fraudulent loan practices
- 2014Raised the largest-ever private equity fund at $18.6 billion
- 2014Fined $39 million by the SEC for failing to disclose accelerated monitoring fees
- 2015Accused of contributing to rising housing costs through its real estate investments
- 2018Criticized for its role in the privatization of public housing in New York City
- 2019Converted from a publicly traded partnership to a corporation
- 2019Faced backlash for its investments in companies linked to Amazon deforestation
- 2021Announced plans to invest $1 billion in companies and projects that reduce carbon emissions
- 2021Scrutinized for its role in the global housing affordability crisis
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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