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Stock impact report

Blackstone Sells $1.1 Billion of Private Equity Fund Stakes to Ares [BNN Bloomberg (Canada)]

PJT Partners Inc. Class A (PJT) 
Last pjt partners inc. class a earnings: 4/28 06:50 am Check Earnings Report
Company Research Source: BNN Bloomberg
The portfolio consists of older fund stakes that Strategic Partners had acquired from institutional sellers, according to people with knowledge of the matter, asking not to be identified discussing confidential information. This is the largest private equity deal completed by Ares' secondaries group. PJT Partners Inc. advised on the transaction, the people said. Representatives for Blackstone, Ares and PJT declined to comment. Strategic Partners, led by Verdun Perry, has $69 billion of assets under management and about 5,500 of acquired limited partnership interests. Ares' secondaries group has more than $24.8 billion of assets, and Nate Walton heads its private equity secondaries strategy. Private equity secondaries transactions have increased in volume as investors — known as limited partners — hunt for liquidity in a slow dealmaking environment. Portfolio sales by limited partners increased to $60 billion last year from $53 billion in 2022, according to a PJT report. R Show less Read more
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