Blackstone related stories
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- Peter Gilbert to become CIO of Lehigh University
Gilbert, who has been the chief investment officer of the $32bn Pennsylvania State Employees’ Retirement System for the past 14 years, will take over the reins at Lehigh on July 30.
- Tishman Speyer, Lehman to acquire Archstone-Smith for $22bn
The announced acquisition of the Englewood, Colorado company, the second largest publicly traded apartment owner in the US, would be one of the largest REIT privatizations in history.
- Savanna launches $313m fund
The real estate investment and development firm is targeting investments across property sectors in the US throughout the Northeast and Mid-Atlantic region.
- Blackstone wins $25m settlement
Mega-buyout firm The Blackstone Group has reportedly been cleared from allegations it offered a cut-rate price for hotel-chain operator Prime Hospitality, and has won a $25m settlement.
- Park Hill adds Michael Stark to real estate group
Placement agent Park Hill Real Estate, a subsidiary of The Blackstone Group, has hired Michael Stark as a senior managing principal.
- Private equity floods hospitality sector
At mid-year, 2007 looks set to be another banner year for hotel buyouts.
- Pirelli, RREEF acquire German residential portfolio for €1.6bn
Pirelli RE and Deutsche Bank have agreed to buy German property group BauBeCon from Cerberus Capital in a transaction valued at €1.6bn.
- Michael Casey joins Blackstone fundraising team
Private equity firm The Blackstone Group announced the appointment of real estate veteran Michael Casey to its fundraising and LP relations team.
- Blackstone IPO could raise $4.8bn
The Blackstone Group has set a price range for its public offering, which has the potential to raise up to $4.8 billion, valuing the firm at approximately $40 billion.