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.


Brookfield buys Center Parcs UK from Blackstone

Brookfield Property Partners L.P. has agreed to buy Center Parcs UK from the Blackstone Group. Financial terms weren’t announced. Center Parcs operates five short break destinations across the UK: Sherwood Forest, Nottinghamshire; Elveden Forest, Suffolk; Longleat Forest, Wiltshire; Whinfell Forest, Cumbria and Woburn Forest, Bedfordshire. Rothschild, Bank of America Merrill Lynch and Morgan Stanley acted as advisors to Blackstone.


Jurek named Gates CEO

Gates Corp., a portfolio company of the Blackstone Group, said Friday it appointed Ivo Jurek its new CEO. Jurek will assume his responsibilities on May 18. He will succeed Jim Nicol, who will remain on the board as the Vice Chairman. Jurek most recently served as President of Eaton’s Electrical business in Asia Pacific.

Blackstone reports Q1 AUM of $310.45 mln

The Blackstone Group reported $1.6 billion in first quarter economic net income, or $1.37 per unit, up 99 percent from $813.9 million in economic net income, or 70 cents per unit, for the same time period in 2014. Total revenue surged 66 percent to $2.5 billion in first quarter from $1.5 billion in first quarter 2014. Blackstone’s total assets under management rose 14 percent to $310.45 million, the release said.


Comprador takes over Blackstone Advisory Partners Asia

The Blackstone Group said Wednesday it has transferred its Hong Kong based M&A advisory business to Comprador Limited. Anthony J. Steains, who headed Blackstone Advisory Partners Asia, is leading Comprador, which will be based in Hong Kong. Steains is Chairman and CEO of Comprador.

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