BX

Global AI Arms Race Accelerates with Cutting-Edge Tech and Strategic Investments

Retrieved on: 
Monday, February 12, 2024
Cloud, Cortex, Computer, Google Cloud, OTCQB, Social media, BX, Avant, Apple silicon, GSK, Roche, Traction, McKinsey & Company, SVP, Investment, Nucor, News, Biophysical environment, Culture, Snowflake Inc., Growth, AAPL, Silicon, ArrayFire, MLX, ESG, FBBank, Consolidated Edison, Computer World, Blackstone Inc., Digital Realty, Memory, Aircraft, Electricity, CNBC, SNOW, Machine learning, Apple Inc., PyTorch, Snowflake, Water, AWS, Environment

VANCOUVER, BC, Feb. 12, 2024 /PRNewswire/ -- USA News Group  - The world is undergoing a massive AI revolution, that according to analysts at McKinsey Global Institute could add the equivalent of up to $4.4 trillion annually in value in the near future. With such immense potential on the line, an AI arms race is underway, several firms are establishing their positions by developing and acquiring new tech, including Avant Technologies Inc. (OTCQB:AVAI), C3.ai, Inc. (NYSE:AI), Snowflake Inc. (NYSE:SNOW), Apple Inc. (NASDAQ:AAPL), and even asset management firm Blackstone Inc. (NYSE:BX).

Key Points: 
  • Along the important road towards this new technological integration, businesses trying to use AI in their products are facing big challenges.
  • These challenges are mostly because of the high costs of computing power and a global shortage of data storage expected by 2025.
  • Avant is dedicated to advancing AI technology and is creating a specialized computing environment specifically designed for AI applications.
  • "In this new AI era, generative AI and large language models will reshape how we live, work and do business."

Blackstone to Present at the Bank of America Securities Financial Services Conference 2024

Retrieved on: 
Wednesday, February 7, 2024
Banking, Asset Management, Professional Services, Finance, Bank, BX, Conference, Shareholder

Blackstone (NYSE:BX) announced today that Michael Chae, Chief Financial Officer, is scheduled to present at the Bank of America Securities 2024 Financial Services Conference on Wednesday, February 21, 2024 at 2:30pm ET.

Key Points: 
  • Blackstone (NYSE:BX) announced today that Michael Chae, Chief Financial Officer, is scheduled to present at the Bank of America Securities 2024 Financial Services Conference on Wednesday, February 21, 2024 at 2:30pm ET.
  • A live webcast of the presentation will be available on the Shareholders section of Blackstone’s website at http://ir.blackstone.com .
  • For those unable to listen to the live webcast, a replay will be available on Blackstone’s website shortly after the event.

TRICON RESIDENTIAL INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Tricon Residential Inc. - TCN

Retrieved on: 
Wednesday, February 7, 2024
Class Action Lawsuit, Professional Services, Legal, Blackstone Inc., Sale, BX, TCN, KSF

and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Tricon Residential Inc. (NYSE: TCN) to Blackstone Inc. (NYSE: BX).

Key Points: 
  • and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Tricon Residential Inc. (NYSE: TCN) to Blackstone Inc. (NYSE: BX).
  • Under the terms of the proposed transaction, shareholders of Tricon will receive $11.25 in cash for each common share of Tricon that they own.
  • KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
  • To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com .

Blackstone Announces Thomas R. Nides as Vice Chairman, Strategy and Client Relations

Retrieved on: 
Monday, January 29, 2024
Finance, Consulting, Banking, Professional Services, Asset Management, Entrepreneurship, Diana Villiers Negroponte, Wind, Public service, Ambassador, International Rescue Committee, Credit Suisse, Partnership, Fannie Mae, University, Government, Morgan Stanley, International, Vice, Human, CSIS, BX, Nides, Private sector, United, Management

Blackstone (NYSE: BX) announced today that Thomas R. Nides, former long-time Vice Chairman of Morgan Stanley, Deputy Secretary of State, and Ambassador to Israel has joined the firm as Vice Chairman, Strategy and Client Relations.

Key Points: 
  • Blackstone (NYSE: BX) announced today that Thomas R. Nides, former long-time Vice Chairman of Morgan Stanley, Deputy Secretary of State, and Ambassador to Israel has joined the firm as Vice Chairman, Strategy and Client Relations.
  • In this new role, Mr. Nides will support a variety of strategic firmwide initiatives and special projects, as well as focus on senior client relationships globally.
  • Stephen A. Schwarzman, Co-Founder, Chairman and CEO said: “We are delighted to welcome Tom Nides to Blackstone.
  • Prior to that, he spent over a decade at Morgan Stanley in various capacities including Chief Operating Officer and Vice Chairman.

Bulk Exchange Emerges From Stealth To Introduce The Premier Bulk Materials Marketplace, Transforming The Construction Industry

Retrieved on: 
Tuesday, January 23, 2024
Building Systems, Retail, Construction & Property, Technology, Professional Services, Supply Chain Management, Other Transport, Venture Capital, Transport, Urban Planning, Other Technology, Landscape, Software, Logistics, Other Construction & Property, HCSS, Partnership, RFP, Growth, Exchange, Junk King, BX, Construction, Automation, Sand, Soil

While dozens of industries become increasingly digitized, management of bulk materials in construction - which includes materials like aggregates, sand and soil - remains stubbornly analog.

Key Points: 
  • While dozens of industries become increasingly digitized, management of bulk materials in construction - which includes materials like aggregates, sand and soil - remains stubbornly analog.
  • Bulk Exchange - founded by construction pros that bring a combined 55+ years of industry experience - built its bulk materials marketplace and RFP solution to solve these specific issues and help other construction pros operate in a digital world.
  • Bulk Exchange was built in collaboration with suppliers and estimators nationwide, employing innovative technology to create efficient solutions for all sides of the bulk material industry.
  • To accelerate its growth, Bulk Exchange has raised more than $4mm in seed financing, almost entirely from individual industry insiders.

KBRA Assigns Preliminary Ratings to BX 2024-BIO

Retrieved on: 
Monday, January 22, 2024
Professional Services, Finance, Kendall Square, KBRA, Methodology, CMBS, Government of Pakistan, BX, KLTV, Boston, Gateway, Engineering, NCF

KBRA announces the assignment of preliminary ratings to four classes of BX 2024-BIO, a CMBS single-borrower securitization.

Key Points: 
  • KBRA announces the assignment of preliminary ratings to four classes of BX 2024-BIO, a CMBS single-borrower securitization.
  • The collateral for the transaction is a $1.2 billion floating rate, interest-only mortgage loan.
  • The loan has an initial two-year term with three, one-year extension options and requires monthly interest-only payments based on a SOFR cap of 4.00%.
  • The loan is secured by the borrower’s fee simple interest in the Kendall Square Portfolio (“Kendall Square”) and Gateway of Pacific Phase I (“GoP Phase I”) property.

Blackstone Announces Minority Growth Investment in Salas O’Brien

Retrieved on: 
Monday, January 22, 2024
Construction & Property, Finance, Engineering, Banking, REIT, Professional Services, Manufacturing, Building Systems, Architecture, Senior, Guggenheim Partners, LLP, Partnership, Kirkland & Ellis, Salas, Latham & Watkins, BX, AEC, Growth

Blackstone (NYSE: BX) and Salas O’Brien (the “Company”), a leading employee-owned engineering and technical services firm, announced today a partnership where funds managed by Blackstone have made a strategic minority growth investment to help accelerate the Company’s continued expansion within the fast-growing architectural, engineering, and construction (AEC) market.

Key Points: 
  • Blackstone (NYSE: BX) and Salas O’Brien (the “Company”), a leading employee-owned engineering and technical services firm, announced today a partnership where funds managed by Blackstone have made a strategic minority growth investment to help accelerate the Company’s continued expansion within the fast-growing architectural, engineering, and construction (AEC) market.
  • Salas O’Brien will continue to be majority owned by its team members.
  • “Salas O’Brien is thrilled to partner with Blackstone as we continue our journey of growth,” said Darin Anderson, Chairman and CEO of Salas O’Brien.
  • Blackstone’s investment helps us gain greater access to talent, enhances our technology resources, and helps us better serve more clients.

Blackstone Real Estate to Take Tricon Residential Private

Retrieved on: 
Friday, January 19, 2024
Commercial Building & Real Estate, Construction & Property, Finance, Asset Management, Building Systems, Professional Services, Other Construction & Property, Residential Building & Real Estate, Special, Simpson Thacher & Bartlett, TCN, Committee, Schedule, Indian stock exchange, J.P. Morgan & Co., Multilateral, Wells Fargo, Transaction, RBC Capital Markets, Form 6-K, Investment Canada Act, Arrangement, LLP, TSX, BX, Proxy, Goodmans, BofA Securities, Scotiabank, Minority, Security (finance)

Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced that they have entered into an arrangement agreement (the “Arrangement Agreement”) under which Blackstone Real Estate Partners X together with Blackstone Real Estate Income Trust, Inc. (“BREIT”) will acquire all outstanding common shares of Tricon (“Common Shares”) for $11.25 (approximately C$15.17) per Common Share in cash (the “Transaction”).

Key Points: 
  • Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced that they have entered into an arrangement agreement (the “Arrangement Agreement”) under which Blackstone Real Estate Partners X together with Blackstone Real Estate Income Trust, Inc. (“BREIT”) will acquire all outstanding common shares of Tricon (“Common Shares”) for $11.25 (approximately C$15.17) per Common Share in cash (the “Transaction”).
  • Tricon serves communities in high-growth markets such as Atlanta, Charlotte, Dallas, Tampa and Phoenix as well as Toronto, Canada.
  • “Tricon provides access to high-quality housing, and we are fully committed to delivering an exceptional resident experience together,” said Nadeem Meghji, Global Co-Head of Blackstone Real Estate.
  • In certain circumstances, Blackstone is required to pay a $526,000,000 reverse termination fee to Tricon upon the termination of the Arrangement Agreement.

KBRA Assigns Preliminary Ratings to BX 2024-XL4

Retrieved on: 
Friday, January 12, 2024
Professional Services, Finance, KBRA, CMBS, BX, KLTV, Engineering, NCF, Telescopic sight

KBRA announces the assignment of preliminary ratings to six classes of BX 2024-XL4, a CMBS single-borrower securitization.

Key Points: 
  • KBRA announces the assignment of preliminary ratings to six classes of BX 2024-XL4, a CMBS single-borrower securitization.
  • The collateral for the transaction is a $1.5 billion floating rate, interest-only mortgage loan.
  • The loan has an initial two-year term with three, one-year extension options and requires monthly interest-only payments based on a SOFR cap of 5.00%.
  • In total, the portfolio contains 14.0 million sf and is located in eight states throughout the US.

Blackstone Announces New Co-Chief Investment Officers and Co-Head of Real Estate

Retrieved on: 
Thursday, January 11, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, Entrepreneurship, Corporation, Credit, BPP, Private equity, CIO, Real estate, BPS, BREP, BCP, Equity, BX, Blackstone Inc., AUM

Blackstone (NYSE: BX) announced today that Ken Caplan, current Global Co-Head of Real Estate, and Lionel Assant, European Head of Private Equity, have been elevated to newly created roles as Global Co-Chief Investment Officers (CIOs) of Blackstone.

Key Points: 
  • Blackstone (NYSE: BX) announced today that Ken Caplan, current Global Co-Head of Real Estate, and Lionel Assant, European Head of Private Equity, have been elevated to newly created roles as Global Co-Chief Investment Officers (CIOs) of Blackstone.
  • Nadeem Meghji, Head of Real Estate Americas, will succeed Mr. Caplan as Global Co-Head of Real Estate alongside current Global Co-Head, Kathleen McCarthy.
  • Mr. Caplan joined Blackstone in 1997, led the Firm’s European Real Estate business from 2012-2015, served as Real Estate CIO from 2015-2017, and has co-headed the global Real Estate business alongside Ms. McCarthy since 2018.
  • Mr. Meghji joined Blackstone Real Estate in 2008 and since 2017 has overseen our Real Estate business in the Americas.