Berry Plastics closes $2.45 bln buy of Avintiv

Berry Plastics Group Inc. said Thursday it closed its buy of Avintiv Inc. from the Blackstone Group for about $2.45 billion. Charlotte, North Carolina-based Avintiv develops, produces and markets specialty materials used in infection prevention, personal care, and high-performance solutions. Credit Suisse and Barclays advised Berry Plastics. Citi and BofA Merrill Lynch provided financial advice to Blackstone.


Blackstone real estate Fund VIII closes at $15.8 bln

The Blackstone Group said Thursday that its latest global real estate fund closed at $15.8 billion. Blackstone Real Estate Partners VIII is already 20 percent committed. Blackstone currently has two regional opportunistic real estate funds, the $8.2 billion Blackstone Real Estate Partners Europe IV and the $5 billion Blackstone Real Estate Partners Asia.


BioMed Realty Trust in talks to sell itself : Bloomberg

BioMed Realty Trust Inc (BMR.N), a real estate investment trust for biotechnologycompanies, is in talks to sell itself and has attracted interest from private equity firm Blackstone Group LP (BX.N), Bloomberg reported, citing people familiar with the matter.


Blackstone invests in PMI

The Blackstone Group has acquired a “significant” equity stake in the PMI Group. Financial terms weren’t announced. Blackstone has also agreed to provide PMI with a loan for working capital needs in exchange for warrants and certain other rights. PMI is the holding company for PMI Mortgage Insurance, which provides residential mortgage insurance coverage in the United States. Peter J. Solomon Company advised PMI while Blackstone Advisory Partners L.P. advised Blackstone.


Blackstone names Chae its CFO

The Blackstone Group said in a July 24 SEC filing that Michael Chae was named CFO. He will replace Laurence Tosi, who has reportedly joined Airbnb Inc. Chae, at Blackstone, has headed media and telecom and international activities in Private Equity and was Head of Asia for the firm. Additionally, Blackstone said it promoted Joan Solotar to Head of Multi-Asset Investing and External Relations.


Airbnb hires Blackstone CFO Tosi: Bloomberg

Airbnb Inc, the website where home owners rent out properties on a temporary basis, has hired Blackstone Group LP Chief Financial Officer Laurence Tosi to fill its own CFO vacancy, Bloomberg reported on Thursday, citing anonymous sources.


Blackstone sells El San Juan Resort & Casino.

Fundamental Advisors LP along with León, Mayer & Co. and Aimbridge Hospitality have acquired El San Juan Resort & Casino. The Blackstone Group was the seller. Financial terms weren’t announced. El San Juan is a 387-room hotel in the Isla Verde district of San Juan and a member of the Hilton Worldwide.


Blackstone, Corsair to buy First Eagle

The Blackstone Group and Corsair Capital, along with unnamed clients of the firms, have agreed to buy a majority of First Eagle Investment Management. The deal values the company at about $4 billion, including debt, Reuters News said. The family of John Arnhold, First Eagle’s chairman and CIO, are the sellers, along with TA Associates which has sold its entire minority stake. First Eagle manages about $100 billion in assets on behalf of institutional and individual clients.

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