Blackstone has held the final close of Blackstone Growth (BXG), its inaugural growth equity fund, at its hard cap of USD4.5 billion in third-party capital commitments from a wide range of family offices, entrepreneurs, endowments, strategic institutional investors, pension funds, high-net-worth individuals, and other investors.
Since it began investing in 2020, BXG has already made a number of significant investments, including in the online dating company Bumble that recently completed a successful initial public offering; oat milk pioneer, Oatly; leading enterprise software business, ISN; and Epidemic Sound, which delivers restriction-free music to internet content creators across the globe.
Through BXG, Blackstone can offer growth-stage entrepreneurs potential access to its more than 100 operating professionals and advisors, a group procurement program that purchases on behalf of portfolio companies with more than 450,000 employees, a dedicated team responsible for identifying opportunities for its businesses to sell to its global portfolio companies with more than USD160 billion of combined revenue, more than 880 million square feet of eCommerce logistics assets, its team of dozens of data scientists, and insights gleaned from 25 offices throughout the world.
Read more at Private Equity Wire
