Blackstone Group acquired a minority stake in private equity firm GTCR, a joint release from both firms said Tuesday. Blackstone acquired the ownership stake through its Blackstone Strategic Capital Holdings GP stakes business, which “specializes in value-added, long-term partnerships” with private market alternatives managers, the release said.
GTCR’s strategy focuses on investment in growth companies in sectors including financial services and technology; growth business services; health care; and technology, media and telecommunications. The size of the GTCR stake and the price Blackstone paid are not being disclosed, said Paula Chirhart, a Blackstone spokeswoman, in an email.
GTCR will continue to operate independently under its own name, Ms. Chirhart said. GTCR will have access to Blackstone internal services including ESG and sustainability analysis, human capital management, cybersecurity and product development capabilities, the release said.
Read more/Source: Pensions & Investments
