On August 17, 2017, Blackstone announced that it will acquire Harvest Fund Advisors LLC, an investment management firm located in the Philadelphia-area.
Terms of the agreement were not disclosed. The acquisition is expected to close in the fourth quarter of 2017, subject to customary closing conditions.
Blackstone is an investment management firm with more than $370 billion in assets under management, which include holdings in private equity, real estate, public debt and equity, and non-investment grade credit, among others.
Founded in 2015, Harvest Fund Advisors LLC invests in public master limited partnerships that hold U.S. midstream energy assets. It has more than $10 billion of assets under management, primarily raised from institutional investors.
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