On July 27, 2021, Blackstone Group announced an agreement to acquire a minority interest in GTCR LLC.
Under the terms of the agreement, Blackstone Group (“Blackstone”) will acquire a minority stake in GTCR LLC (“GTCR”). Blackstone will acquire the minority interest in GTCR through its Blackstone Strategic Capital Holdings GP Stakes business. The partnership will give GTCR access to Blackstone’s purchasing program, which leverages $150 billion in buying power. Further terms of the agreement were not disclosed.
Blackstone, based in New York (NYSE:BX), is an investment firm focusing on private equity, public debt and equity, real estate, growth equity, life sciences, opportunistic, non-investment grade credit, secondary funds, and real assets. Blackstone manages approximately $684 billion in assets.
GTCR, based in Chicago, Illinois, is a private equity firm focused on investing in growth companies in the media and telecommunications, technology, financial services and technology, healthcare, and growth business services industries.
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