Wed, 14/03/2018 - 10:54
Blackstone’s Strategic Capital Holdings Fund has acquired a passive, minority equity stake in Rockpoint, a Boston-based global real estate investment management firm. Terms of the transaction have not been disclosed.
Rockpoint co-founder Bill Walton, says: "This permanent capital investment by Blackstone is a testament to our team and investment programs. It will further strengthen our firm while preserving its entrepreneurial culture.”
Rockpoint co-founder Keith Gelb, adds: “We have great respect for Blackstone’s business and the brand it has established across asset classes. Our firms share a strong commitment to excellence and integrity. We look forward to having Blackstone as a partner.”
Blackstone’s Strategic Capital Holdings Fund, a permanent capital vehicle which specialises in acquiring long term interests in leading alternative asset managers, is managed by Blackstone Alternative Asset Management (BAAM), the firm’s hedge fund solutions business.
Scott Soussa, Head of BAAM’s Strategic Capital Group, says: “We are delighted Rockpoint chose Blackstone as its strategic partner. Rockpoint’s record of success, experienced team of professionals, extensive industry relationships and disciplined fundamental value investment approach set the firm apart and make this an especially exciting investment opportunity for Blackstone.”
Jon Gray, Blackstone President and COO, adds: “Blackstone’s real estate business has had the privilege of working alongside Rockpoint on a number of debt and equity transactions over the years. It is an extraordinarily high-quality and high-integrity investment firm.”
Evercore served as financial advisor to Rockpoint. Kirkland & Ellis served as legal counsel to Blackstone and Simpson Thacher served as legal counsel to Rockpoint.
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