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.


VTS raises $21 mln from OpenView and Blackstone

VTS said it raised $21 million of Series B financing in a deal led by OpenView Venture Partners and joined by existing investors. The New York based company that is developing asset-management software for the commercial real estate market has now raised a total $32 million.


Emdeon buys Altegra Health for $910 mln

Emdeon Inc, a Blackstone and Hellman & Friedman portfolio company, said Monday it has agreed to buy Altegra Health for about $910 million in cash. Parthenon Capital Partners is the seller. Miami Lakes, Florida-based Altegra provides payment solutions for health plans and healthcare providers. Greenhill & Co. LLC is advising Emdeon while Goldman, Sachs & Co. and Triple Tree LLC provided financial advice to Altegra.


Blackstone closes Philadelphia Financial Group buy

TipTree Financial Inc. said Tuesday it has closed the sale of insurer and administrator Philadelphia Financial Group Inc. to the Blackstone Group. The deal was announced in October. TipTree will received $155 million at close and an additional two payments over the next two years totaling $9 million.

Phoenix Tower to buy T4U Holding Brasil

Phoenix Tower International, backed by Blackstone Group’s Tactical Opportunities business, is buying Phoenix Tower International, backed by Blackstone Group’s Tactical Opportunities business, is buying T4U Holding Brasil S.A. Financial terms weren’t announced. T4U is a Brazilian cellphone tower operator.


Pollack joins Blackstone’s real estate group

The Blackstone Group said Monday that Jonathan Pollack has joined the firm as a Senior Managing Director in its Real Estate Group. Pollack was previously a Managing Director and Global Head of Commercial Real Estate, as well as Head of Risk for Structured Finance, at Deutsche Bank.


Sanusi joins Black Rhino as chairman

Black Rhino, a portfolio company of the Blackstone Group, said Thursday that His Highness Emir Muhammad Sanusi II has joined its board as chairman. Black Rhino, of Lagos, Nigeria, develops and acquires energy and infrastructure projects across Africa.

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