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Search resuls for: "Steve Schwarzman"


5 mentions found


☆ Private credit is king, for now: How Blackstone is seizing on making loans while banks pull back in a dismal market
  + stars: | 2022-10-20 | by ( Rebecca Ungarino | Emmalyse Brownstein | ) www.businessinsider.com   time to read: +4 min
Blackstone is doubling down on private credit investments in a volatile market. While its corporate private equity investment performance fell in the quarter, private credit rose. As stock markets plunge, private equity investments' values sour, and central banks hike interest rates, the growing private credit market is heating up — and benefitting private investors stepping in to make loans as banks pull back. Take Blackstone, the world's largest alternative asset manager known for its powerful private equity and real estate businesses. Risks and opportunitiesBlackstone is hardly alone as it doubles down on private credit investments.
☆ Blackstone converts Indian property to safe haven
  + stars: | 2022-10-06 | by ( Una Galani | ) www.reuters.com   time to read: +3 min
MUMBAI, Oct 6 (Reuters Breakingviews) - A global downturn could boost demand for Indian real estate. The investor-cum-landlord led by Steve Schwarzman has played a big role in developing a local market for real estate investment trusts. Now it’s preparing to float a collection of glitzy shopping malls in what would be only the country’s fourth publicly traded REIT. Indian real estate trusts outperform U.S. peersFollow @ugalani on Twitter(The author is a Reuters Breakingviews columnist. On Sept. 27, Blackstone raised $325 million from selling an 8.1% stake in Embassy Office Parks REIT, per IFR.
☆ American homebuyers are finding UK bargains, discounted by a weaker pound
  + stars: | 2022-09-30 | by ( Robert Frank | ) www.cnbc.com   time to read: +3 min
American homebuyers are searching for bargains in the U.K., as a weaker pound contributes to double-digit price cuts. The fall in the British currency, which is off 17.5% against the U.S. dollar year to date, has made U.K. real estate cheaper for buyers paying in U.S. dollars. A property listed at 5 million pounds in Knightsbridge, for instance, would have cost $8.6 million eight years ago but $4 million today. The asking price: 30 million pounds, or about $33 million with today's currency exchange rates. That marks a savings of more than $6 million for U.S. buyers, paying in dollars, compared with a year ago.
☆ Blackstone’s Schwarzman kickstarts UK asset grab
  + stars: | 2022-09-28 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Sept 28 (Reuters Breakingviews) - Britain’s currency crisis may have an upside after all – at least for foreign investors. Blackstone’s (BX.N) Steve Schwarzman is paying 80 million pounds for 17th-century country estate Conholt Park, the City A.M. newspaper reported. But it’s exactly the kind of purchase that will make more sense the lower the pound goes. And to the extent that future cash flows are denominated in dollars or euros, the sterling purchase price should rise. U.S. investors just bought Chelsea soccer club, while Saudi Arabia’s sovereign wealth fund last year swooped on rival Newcastle United.
☆ How Blackstone, the private equity giant behind cult-favorite sunscreen Supergoop, is thinking about its next big consumer bet
  + stars: | 2022-09-26 | by ( Michelle Abrego | ) www.businessinsider.com   time to read: +6 min
The growth of e-commerce has opened new private equity opportunities, a top investor said. The $941 billion private equity firm took a majority stake in Supergoop last December. The investment valued Supergoop, which makes sunscreen and sun protection-focused makeup, at some $600 million to $700 million at the time, Bloomberg News reported. "What is at work here is the colossal, growing nature of private equity everywhere," said Carter Dougherty, communications director for the progressive advocacy coalition Americans for Financial Reform. Some $78 billion of that is in private equity, with the rest across real estate, hedge fund solutions, and credit and insurance, according to filings.
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