• Project to add several public amenities, including new public restrooms for Hudson River Park, an 1,850 square foot community amenity space, 25,000 square feet of waterfront open space and pier access, and safety improvements to the bikeway

New York & Los Angeles – August 29, 2023 – Today, Vornado Realty Trust (NYSE: VNO), Hudson Pacific Properties (NYSE: HPP), Blackstone (NYSE: BX), the City of New York, and New York City Economic Development Corporation (NYCEDC) announced they have entered into Manhattan’s first public-private partnership venture to build a purpose-built studio campus at Pier 94. Vornado, who contributed its long-term leasehold for Pier 94 to the venture, will own 49.9%; Hudson Pacific will own 25.6%; and Blackstone’s institutional Core+ Real Estate strategy will own 24.5%. Vornado will be responsible for development and Hudson Pacific will provide design oversight and manage the facility’s leasing and operations.

Sunset Pier 94 Studios will be a first-of-its-kind space, home to both state-of-the-art film and production technology that will make New York City even more competitive with other comparable markets, as well as impressive amenities for all New Yorkers including new public restrooms for Hudson River Park, an 1,850-square-foot community amenity space, 25,000 square feet of waterfront open space and pier access, and safety improvements to the bikeway. There will also be a program to support workforce development and training programs to connect local residents to opportunities in film, television, commercial and other media production.

The project represents a total investment of approximately $350 million from Vornado, Hudson Pacific and Blackstone, and is expected to create more than 1,300 construction jobs, 400 permanent jobs and contribute $6.4 billion to the local economy over the next 30 years. Construction will begin in third quarter 2023, utilizing $183 million in construction financing led by RBC, and delivery of the project is expected by year-end 2025.

“Our partnership with Blackstone, Hudson Pacific, and the City of New York will solidify New York as a leading market for content production and studio space, create jobs, drive economic momentum, and deliver a host of amenities to the surrounding community,” said Michael Franco, President and Chief Financial Officer at Vornado Realty Trust. “Together we’ll raise the bar for one of New York City’s signature industries and breathe new life into a key waterfront site.”

“We are thrilled to partner with the City of New York, Vornado, and Blackstone to bring this unparalleled, ideally located production experience to New York. The city has an extensive, well-established production infrastructure yet is highly supply constrained in terms of stages,” said Victor Coleman, Chairman and CEO of Hudson Pacific. “Once again we are leveraging our industry relationships and unique expertise in building and operating premier facilities for leading content creators in the highest-barrier-to-entry global media markets to create long-term value for our shareholders.”

“Content creation is one of our key global investment themes, and we are thrilled to be part of this one-of-a-kind, public-private partnership that delivers for our investors while aiming to create more than 1,300 construction jobs and 400 permanent jobs, and contribute $6.4 billion over the next 30 years to the local New York City economy. I want to thank the City of New York, Mayor Eric Adams, and the New York City Economic Development Corporation for helping make this project possible,” said Nadeem Meghji, Blackstone’s Head of Real Estate Americas.

“With our administration’s leadership, New York City is back – we have recovered 99 percent of the jobs lost during the pandemic, and visitors from across the world are returning to Broadway and Times Square,” said New York City Mayor Eric Adams. “At the same time, from Willets Points in Queens to Kips Bay in Manhattan to Kingsbridge Heights in the Bronx, we are advancing bold economic development projects across the entire city that will create tens of thousands of family-sustaining jobs in our communities, and the activation of Pier 94 will produce the same kinds of economic opportunities on the West Side of Manhattan. This project will bring critical, long-awaited investment to this public asset, turn an underutilized space into an economic driver, and improve public space and quality of life for New Yorkers.”

“Transforming Pier 94 into a world-class film and television production studio delivers multiple goals that are key to our continued recovery: economic development, local job creation, and public realm improvements,” said Deputy Mayor for Housing, Economic Development and Workforce Maria Torres-Springer. “This partnership between NYCEDC, Vornado, Hudson Pacific, and Blackstone will quickly revitalize this key waterfront asset and fortify our position as the capital of film and media.”

“Sunset Pier 94 Studios demonstrates a monumental public-private partnership that will have a lasting impact on our city by creating 400 film and TV jobs, over 1,300 construction jobs, along with an estimated economic impact of $6.4 billion over the next 30 years,” said New York City Economic Development Corporation (NYCEDC) President & CEO Andrew Kimball. “NYCEDC and our partners in this project look forward to the development and completion of the pier space – including significant improvements to the public realm and waterfront access on the west side of Manhattan that all New Yorkers will be able to enjoy. This project further advances NYCEDC’s mission of transforming New York City into a great place to live, work, do business, and play.”

Pier 94 will cement New York City as one of the preeminent places for the film and television industry to film while also contributing to the needs of the local community. Plans for the 266,000-square-foot Sunset Pier 94 Studios include six purpose-built soundstages with production control room facilities and 145,000 square feet of production support space and offices, with stunning Hudson River views and ample on-site parking. Several stages will have technological infrastructure for adaptation to virtual production. The facility’s location, design, size and technological capabilities will provide world-class convenience and flexibility for episodic television, live audience television and feature films. In alignment with the broader Sunset Studios portfolio, Sunset Pier 94 Studios will prioritize sustainability, targeting LEED Gold and Fitwel certification, with plans for operations to be powered by 100% renewable energy.

The new facility will be the first New York location for Hudson Pacific and Blackstone’s growing studio platform and synergistic with its existing Los Angeles operations. With the addition of Sunset Pier 94 Studios, Sunset Studios will comprise 69 existing and planned stages globally across six purpose-built facilities, all in top-tier locations within the well-established and supply constrained production epicenters of Los Angeles, London and New York. Hudson Pacific’s Quixote brand operates an additional 26 stages in Los Angeles and New Orleans and services productions in Los Angeles, New York, Atlanta, New Orleans and Albuquerque.

About Vornado Realty Trust
Vornado is a fully integrated real estate investment trust (“REIT”) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.

About Hudson Pacific Properties
Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. For more information visit HudsonPacificProperties.com.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $333 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, residential, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT), a U.S. non-listed REIT, and Blackstone’s European yield-oriented strategy. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

About New York City Economic Development Corporation
New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city’s future economy. To learn more about what we do, visit us on Facebook, Twitter, LinkedIn, and Instagram.

Forward-Looking Statements for Vornado Realty Trust
Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent Vornado’s intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Vornado’s future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “would,” “may” or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and Vornado’s future results and financial condition, see “Risk Factors” in Part I, Item 1A, of its Annual Report on Form 10-K for the year ended December 31, 2022. Currently, some of the factors are the increase in interest rates and inflation and the continuing effect of the COVID-19 pandemic on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on Vornado’s tenants, the global, national, regional and local economies and financial markets and the real estate market in general.

Forward-Looking Statements for Hudson Pacific Properties
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond Hudson Pacific’s control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect Hudson Pacific’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, Hudson Pacific disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause Hudson Pacific’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in Hudson Pacific’s Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by Hudson Pacific from time to time with the SEC.

Contacts

Vornado
Tom Sanelli
(212) 894-7433
tsanelli@vno.com

Hudson Pacific Properties
Investor Contact: Laura Campbell
(310) 622-1702
lcampbell@hudsonppi.com

Media Contact: Laura Murray
(310) 622-1702
lmurray@hudsonppi.com

Blackstone
Jillian Kary
(212) 583-5379
Jillian.Kary@Blackstone.com

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Blackstone launched its Tactical Opportunities (“Tac Opps”) platform – a strategy the firm pioneered – in 2012 to invest across the landscape of private investment opportunities outside of traditional private equity and private credit. Today, Tac Opps has $34 billion of assets under management and represents the largest opportunistic investment platform in the world. The Tac Opps team invests globally across asset classes, industries, and geographies, seeking to deliver compelling risk-adjusted returns by identifying and executing on attractive, differentiated investment opportunities. As thematic investors, Tac Opps leverages its team’s deep sector expertise while harnessing the scale and intellectual capital across Blackstone’s various businesses.

David Blitzer, Global Head of Tactical Opportunities, said: “We are grateful for this strong vote of confidence from our investors, whose continued support is a testament to our team’s ability to identify compelling opportunities amid fast-changing market conditions. Our expertise in nimbly deploying capital on a global basis, unconstrained by asset class, industry, or geography, allows us to deliver tailored solutions to exceptional businesses and strong results for our investors.”

Christopher James, Chief Operating Officer of Tactical Opportunities, said: “We created the Tactical Opportunities platform more than a decade ago to shine in periods of dislocation like we’ve seen recently. We believe our scale, flexible capital, and thematic investing focus positions us well to capitalize on the compelling opportunity set ahead.”

BTO IV has already made several notable recent investments. This includes CoreWeave, a specialized provider of critical cloud infrastructure pioneering the AI revolution, and New Tradition, a leading out-of-home media business that operates some of the most iconic advertising assets nationwide such as One Times Square in New York City and The Reef in Los Angeles, among others.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.

Contacts

Matthew Anderson
(518) 248-7310
Matthew.Anderson@Blackstone.com

The post Blackstone Announces Record Final Close for Fourth Flagship Tactical Opportunities Fund appeared first on Blackstone.

NEW YORK – August 10, 2023 – Blackstone (NYSE: BX) today announced the final close of its energy transition credit fund, Blackstone Green Private Credit Fund III (BGREEN III). BGREEN III closed at its hard cap of $7.1 billion, representing the largest energy transition private credit fund ever raised.

Dwight Scott, Global Head of Blackstone Credit, said: “Blackstone has built a premier platform focused on private credit in the energy transition and infrastructure markets. We are grateful for the trust from our limited partners and look forward to investing in this favorable market environment.”

Robert Horn, Global Head of the Sustainable Resources Group for Blackstone Credit, said: “The energy transition is impacting large sectors of the economy and is resulting in a growing need for efficient private capital. We believe our experience and scale will enable Blackstone Credit to deliver flexible solutions to companies driving this historic transition and generate compelling returns for our investors.”

BGREEN III is managed by Blackstone Credit’s Sustainable Resources Platform, which focuses on providing private credit to the renewable energy, infrastructure, and energy transition marketplace. The Platform has approximately 40 investment professionals across North America, Europe, and Asia and invests across the credit spectrum in investment grade credit, non-investment grade credit, preferred and convertible securities. In 2022, Blackstone announced that it sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade across its businesses.

Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers. Blackstone’s Credit and Insurance segment has $295 billion in AUM. Blackstone Credit seeks to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

¹ Source: Preqin, Pitchbook, company websites, and publicly available information as of August 5, 2023. BGREEN III commitments included in this figure are as of August 8, 2023 to reflect final closing amount. Analysis based on universe of private credit funds closed since 2006 with fund sizes of $7B or greater.

Contacts
Kate Holderness
Kate.Holderness@Blackstone.com
646-482-8774

Mariel Seidman-Gati
Mariel.seidmangati@Blackstone.com
917-698-1674

The post Blackstone Closes Record Energy Transition Private Credit Fund at Over $7 Billion appeared first on Blackstone.

ROSELAND, N.J, – August 3, 2023 – CoreWeave, a specialized cloud provider of large-scale GPU-accelerated workloads, today announced it has secured a $2.3 billion debt financing facility. The funding was led by Magnetar Capital and funds managed by Blackstone Tactical Opportunities (“Blackstone”) with strategic participation from leading asset management firms Coatue and DigitalBridge Credit, and funds and accounts managed by BlackRock, PIMCO, and Carlyle.

CoreWeave is powering the LLM (large language model) and generative AI boom with purpose-built, ultraperformant cloud infrastructure at scale. The new financing will be used to add to its fleet of high-performance compute to serve its customers, open new data centers, and add to CoreWeave’s world class staff.

“AI has the potential to transform the way we engage with technology, power the industries of the future, and make society’s vital services more efficient – as long as the infrastructure is in place to deliver performance at scale,” said Michael Intrator, CoreWeave CEO and co-founder. “CoreWeave is delivering on this unprecedented level of demand with the most reliable, flexible, and highly performant compute resources to lead the industry forward. The new resources from these world class investors are a vote of confidence in our accomplishments to date and validate our future strategy.”

“We are incredibly proud to expand our years-long partnership with CoreWeave through this important transaction that positions the company for long-term growth and success,” said David Snyderman, Chief Investment Officer and Managing Partner at Magnetar Capital. “As AI becomes increasingly integrated into businesses and society at large, CoreWeave is well equipped to meet the world’s increasing need for high performance compute and serve as a value-added provider to each of its customers.”

Jasvinder Khaira, a Blackstone Senior Managing Director, said: “The soaring computing demand from generative AI will require significant investment in specialized GPU cloud infrastructure – where CoreWeave is a clear leader in powering innovation. Blackstone’s investment in CoreWeave aligns perfectly with our focus on AI and digital infrastructure, and takes advantage of our scale and flexibility to offer innovative financial solutions to market leaders.”

Earlier this month, CoreWeave announced a new $1.6 billion data center in Plano, Texas – a milestone as the company continues to aggressively expand its capacity and infrastructure footprint. This company anticipates a fleet of 14 data centers to be in place by the end of 2023.

Last month, CoreWeave unveiled the world’s fastest AI supercomputer built in partnership with NVIDIA, measured by an industry standard benchmark test called the MLPerf. CoreWeave’s publicly available supercomputing infrastructure trained the new MLPerf GPT-3 175B large language model (LLM) in under 11 minutes, which was more than 29x faster than the next best competitor and 4x larger than the next best competitor.

In April, CoreWeave announced it had raised $221 million in Series B funding led by Magnetar Capital with contributions from NVIDIA, Nat Friedman and Daniel Gross. One month later, CoreWeave secured $200 million in a Series B extension, also led by Magnetar Capital.

John Watson, a Managing Director at Blackstone, added: “We believe that CoreWeave’s purpose-built infrastructure will continue to play a key role in supporting the growth of the AI industry and look forward to supporting this technology leader’s expansion moving forward.”

About CoreWeave
Founded in 2017, CoreWeave is a specialized cloud provider, delivering a massive scale of GPU compute resources on top of the industry’s fastest and most flexible infrastructure. CoreWeave builds cloud solutions for compute-intensive use cases — machine learning and AI, VFX and rendering, life sciences, the Metaverse, and real-time streaming — that are up to 35 times faster and 80% less expensive than the large, generalized public clouds. Learn more at www.coreweave.com.

About Blackstone  
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram. 

Contacts

Blackstone
Matthew Anderson
(518) 248-7310
Matthew.Anderson@Blackstone.com

The post CoreWeave Secures $2.3 Billion Debt Financing Facility led by Magnetar Capital and Blackstone to Meet Surging Demand and Ongoing Expansion of Specialized Cloud Infrastructure to Power AI appeared first on Blackstone.

The portfolio comprises 127 wholly-owned properties and 9 million net rentable square feet that are geographically diversified across 18 states and located in markets with population growth that has been approximately double the national average since 2018. Approximately 65% of the properties are located in high-growth Sunbelt markets. During BREIT’s ownership period, Blackstone made investments into the Simply platform that enabled the company to enhance the quality of the portfolio and management team, and ultimately significantly increased Simply’s net operating income.

Public Storage will deploy its industry-leading brand and operating platform to drive customer recognition and further enhance performance. The Company will integrate an additional 25 properties into its PS Advantage® third-party management platform. By combining the Simply team with Public Storage’s leading platform, the Company will deepen its presence in fast-growing markets, bolster its core strengths, and unlock additional opportunities for growth and value creation.

This acquisition reflects Public Storage’s continued execution of its opportunistic growth strategy. Since 2019, Public Storage has expanded its portfolio by approximately 55 million net rentable square feet, or 34%, through $10.6 billion of acquisitions, development, and redevelopment, including Simply and additional properties previously announced as under contract.

“We are pleased to welcome Simply’s team, customers, and third-party management partners to Public Storage’s industry-leading brand and platform,” said Joe Russell, Public Storage’s Chief Executive Officer. “This acquisition reflects the continued execution of our multi-factor external growth platform, which includes acquisitions, development, redevelopment, expansion, and third-party management. We are pleased to complete this important transaction with Blackstone, which further demonstrates our position as an acquirer of choice in the industry. Blackstone has done a tremendous job of growing and improving the quality and operations of the Simply portfolio over the past few years.”

Nadeem Meghji, Head of Blackstone Real Estate Americas, said “Where you invest matters, and this transaction demonstrates the strong investor demand for the high-quality assets and platforms we have assembled within BREIT. This sale is a terrific outcome for BREIT stockholders and enables us to further concentrate BREIT’s portfolio in its highest growth sectors. Public Storage is a leader in its space and will be a terrific steward of this portfolio.”

The acquisition is currently expected to close in the third quarter of 2023, subject to the satisfaction of customary closing conditions. A detailed presentation is available in the Investor Relations section of Public Storage’s website.

Eastdil Secured served as financial advisor to Public Storage, and Wachtell, Lipton, Rosen & Katz and Hogan Lovells US LLP acted as legal advisors. Wells Fargo and Newmark Group, Inc. served as lead financial advisors to BREIT, and BMO Capital Markets and Sumitomo Mitsui Banking Corporation (SMBC) also served as financial advisors. Simpson Thacher & Bartlett LLP acted as BREIT’s legal advisor.

About Public Storage
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At March 31, 2023, we had: (i) interests in 2,877 self-storage facilities located in 40 states with approximately 205 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels:SHUR), which owned 266 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard® brand. Our headquarters are located in Glendale, California.

About Blackstone Real Estate Income Trust 
Blackstone Real Estate Income Trust, Inc. (BREIT) is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. BREIT invests primarily in stabilized, income-generating U.S. commercial real estate across asset classes in the United States and, to a lesser extent, real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $333 billion in investor capital under management. Further information is available at www.breit.com.

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements speak only as of the date of this release. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s or BREIT’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Factors and risks that may impact the Company’s or BREIT’s respective future results and performance are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and BREIT’s Annual Report on Form 10-K for the most recent fiscal year, its periodic filings with the SEC, as well as under the section entitled “Risk Factors” in BREIT’s prospectus, each of which is accessible on the SEC’s website at www.sec.gov. Each of the Company and BREIT disclaims any obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, new estimates, or other factors, events or circumstances after the date of this release, except where required by law.

Contacts

Public Storage
Ryan Burke
(818) 244-8080, Ext. 1141

Blackstone
Jeffrey Kauth
Jeffrey.Kauth@Blackstone.com
(212) 583-5395

The post Public Storage Accelerates Growth with Simply Self Storage Acquisition appeared first on Blackstone.

Blackstone will host its second quarter 2023 investor conference call via public webcast on July 20, 2023 at 9:00 a.m. ET. To register and listen to the call, please use the following link here. 

For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of Blackstone’s website at https://ir.blackstone.com/ beginning about two hours after the event. 

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1 trillion in assets under management include investment vehicles focused on private equity, real estate, private and liquid credit, infrastructure, life sciences, growth equity, public securities and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.  

Contact
Blackstone Public Affairs
New York
+1 (212) 583-5263 

The post Blackstone Reports Second Quarter 2023 Earnings Results appeared first on Blackstone.

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Headquartered in Paris, Lazeo is a founder-led, family-owned provider of non-invasive aesthetic medicine services including laser hair removal, injectables, body contouring, and medical-grade facials. Founded in 2010 by Dr. Bernard and Dimitri Sillam with a single location in Paris, Lazeo has grown to become the number one provider in France with 135 locations, five in Belgium and significant runway for further expansion in both existing and new markets. In 2023, Lazeo entered Germany with the acquisition of Munich-based Cleanskin.

This partnership with Blackstone will support Lazeo’s continued growth and help meaningfully scale its operations and ongoing expansion. Dimitri Sillam, Co-Founder and Chief Executive Officer, will continue to run day-to-day operations of the Company.

Dimitri Sillam, Co-Founder and CEO at Lazeo, said: “We are thrilled and honoured to partner with Blackstone for the next phase of our growth journey. Blackstone shares in our vision to make Lazeo into a European champion in aesthetic medicine, and we look forward to working together to build on our significant success to date.”

Raphael de Botton, Senior Managing Director at Blackstone, said: “Providing capital to a family-founded company is a hallmark of Blackstone Tactical Opportunities and we are delighted to partner with Bernard, Dimitri and the Lazeo team.  

“Lazeo is a high-growth market leader with clear brand recognition in a sector with strong industry tailwinds and meaningful value-add opportunities. Together with the Sillam family, Blackstone will support Lazeo in capitalising on its leadership position in France, while expanding its operations in Europe.”

The transaction is subject to regulatory approvals and other customary closing conditions.

Press Contacts:

Lazeo
Scarlett Sillam
+33 6 84 60 35 16

Blackstone
Rebecca Flower
Rebecca.Flower@blackstone.com  
+44 (0)7918 360372

The Leverage Advisory on behalf of Blackstone
Florence Sabourin
fsabourin@theleverageadvisory.eu
+33 6 07 62 47 36

About Lazeo
Lazeo is the leading aesthetic medicine provider in France, with over 140 fully owned locations across France, Belgium, and Germany, and over 800 employees. Lazeo provides safe, non-invasive treatments at the forefront of innovation for maximum effectiveness and comfort, with treatments that are tailored to meet the needs and requirements of each client. Lazeo was founded in 2010 by Dr. Bernard Sillam and Dimitri Sillam.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $991 billion in assets under management include investment vehicles focused on private equity, real estate, private and liquid credit, infrastructure, life sciences, growth equity, public securities and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram. 

The post Lazeo Welcomes Significant Investment from Blackstone appeared first on Blackstone.

DealCatalyst

We’re pleased to receive two awards and one honorable mention from DealCatalyst’s U.S. Collateral Loan Obligation (CLO) Awards: 

• Best CLO Manager of the Year
• Best Middle Market CLO of the Year 
• Highly Commended Middle Market Manager of the Year 

GlobalCapital

Blackstone Credit has also been recognized for the following categories for the GlobalCapital Awards in U.S. and Europe:

US:

• Broadly Syndicated Loan (BSL) CLO Manager of the Year 
• BSL CLO Deal of the Year
• Middle Market Loan (MML) CLO Deal of the Year
• Asset Management Investor of the Year 

Europe:

• CLO Equity Investor of the Year

Debtwire

Finally, we’re proud to share our recognition at Debtwire’s European Direct Lending Awards as the Italy Direct Lending Manager of the Year and recognition by Creditflux for Best Public Closed-End CLO Fund.

Blackstone Credit is proud to offer credit solutions that we believe drive long-term value for our partners and investors. 

The awards herein were provided by Creditflux, GlobalCapital Europe, DealCatalyst, Debtwire, and GlobalCapital US, on May 3, 2023, May 4, 2023, May 16, 2023, May 18, 2023, and June 7, 2023, respectively. These awards cover the calendar year of 2022. These awards are not indicative of future performance, of all investments made by a fund, or any client’s or investor’s experience with Blackstone. Blackstone’s selection to receive these awards may have been based on a limited universe of participants, and therefore there can be no assurance that a different sampling of participants might not achieve different results. 

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