Blackstone takes majority stake in Stearns Lending

The Blackstone Group acquired a majority stake in Stearns Holdings, parent company of Stearns Lending, a national mortgage lender with wholesale, retail, correspondent and strategic alliance business channels. Founder Glenn Stearns will retain a significant ownership stake in the company. The deal is expected to close by year end.


Pritzker Group Private Capital hires Blackstone, TPG, UBS execs

Pritzker Group Private Capital has hired three professionals to its Los Angeles office. The new Los Angeles team includes former Blackstone Group managing director Michael Dal Bello as an investment partner on the healthcare investment team. Dal Bello is joined by Ceron Rhee as vice president in healthcare, a former vice president at TPG Capital; and Evan Earley, associate, who joins from UBS, where he worked as an analyst.


Mill Road Capital, Blackstone complete R.G. Barry take-private

Mill Road Capital and The Blackstone Group have completed the take-private of R.G. Barry Corporation, which makes accessories and other products. R.G. Barry is now 50 percent-owned by Mill Road, which first invested in the company in 2008, and 48 percent-owned by Blackstone through its Tactical Opportunities business.


Apollo cites separate accounts as big growth area

As the universe of private equity limited partners expands to include massive pools of capital like sovereign wealth funds, firms are working to find ways of satisfying growing appetite for specially tailored accounts that meet specific investment needs.


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