BX

Blackstone Closes Record Energy Transition Private Credit Fund at Over $7 Billion

Retrieved on: 
Thursday, August 10, 2023
Environment, Finance, Other Energy, Banking, Professional Services, Sustainability, Energy, Asset Management, Other Professional Services, BX, Blackstone Credit, AUM, Climate change, Platform, NYSE, Renewable energy

Blackstone (NYSE: BX) today announced the final close of its energy transition credit fund, Blackstone Green Private Credit Fund III (BGREEN III).

Key Points: 
  • Blackstone (NYSE: BX) today announced the final close of its energy transition credit fund, Blackstone Green Private Credit Fund III (BGREEN III).
  • BGREEN III closed at its hard cap of $7.1 billion, representing the largest energy transition private credit fund ever raised.
  • Dwight Scott, Global Head of Blackstone Credit, said: “Blackstone has built a premier platform focused on private credit in the energy transition and infrastructure markets.
  • We believe our experience and scale will enable Blackstone Credit to deliver flexible solutions to companies driving this historic transition and generate compelling returns for our investors.”
    BGREEN III is managed by Blackstone Credit’s Sustainable Resources Platform , which focuses on providing private credit to the renewable energy, infrastructure, and energy transition marketplace.

Third Annual Kubota Hometown Proud Sweepstakes Launches: Vote for Your Favorite Community Project for a Chance to WIN a Kubota Tractor or Mower

Retrieved on: 
Tuesday, August 1, 2023
Volunteering, Partnership, Housing, BX, Historically black colleges and universities, TSU, GROW, HBCU, Community Choice Aggregation, Tennessee State University, Agriculture, Farmer, Food safety, Hunger Task Force, Inc., Goodbread–Black Farm Historic District, Children's Village (New York), NO, Community, Local, City, Farm, Food, Heavy equipment, Tourism, Kubota, D.C

GRAPEVINE, Texas, Aug. 1, 2023 /PRNewswire/ -- As a continued commitment to its dealers, customers and local communities, Kubota Tractor Corporation announced five $100,000 grant recipients today in its third annual Kubota Hometown Proud™ grant program – aimed at providing much-needed support for cities, counties and nonprofit organizations and their unique initiatives across the country. Now, each of the five winners is put up for a public vote, and the hometown project with the most votes will win an additional $100,000 grant as the Kubota Community Choice Award winner. As an incentive, every vote submitted at KubotaHometownProud.com will be entered into a separate sweepstakes for the chance to win a Kubota zero-turn mower or BX sub-compact tractor.

Key Points: 
  • As an incentive, every vote submitted at KubotaHometownProud.com will be entered into a separate sweepstakes for the chance to win a Kubota zero-turn mower or BX sub-compact tractor.
  • Every vote submitted will be automatically entered into a sweepstakes* for the chance to win a Kubota residential Z200 Series zero-turn mower or BX Series sub-compact tractor.
  • The community project with the most votes will be announced as the Kubota Community Choice Award winner in September.
  • In March, Kubota announced its third annual Kubota Hometown Proud grant program, calling on cities, towns, municipalities, and nonprofits to apply for consideration.

The New York Women's Foundation Doubles Down on Investment to Advance Reproductive Justice, Safety & Healing Through Summer 2023 Grantmaking Efforts

Retrieved on: 
Wednesday, July 26, 2023
Laura Flanders, Pregnancy, Partnership, Move, Justice, Number of U.S. Supreme Court cases decided by year, Parent, Los Angeles LGBT Center, Woman, NYWF, Family separation, History, Movement, Mother, Organization, Investment, Risk, Child, FTG, Supreme court, Red Canary Song, GAC, New York Women's Foundation, FDA, Ecosystem, News, Safety, Birth control, BX

NEW YORK, July 26, 2023 /PRNewswire/ -- Today, The New York Women's Foundation (NYWF) announced $2.57 million of grantmaking in support of 34 organizations, both new and renewals to existing grantee partners, with a focus on reproductive justice, safety and healing, and emerging organizations and movements. For its June grants, The Foundation is investing in the infrastructure and sustainability of our communities and shaping our stories, while advancing its early investment strategy to create a more equitable and just future. As backlash against the movement for gender, racial, and economic justice continues, The Foundation acts in solidarity with partners by stepping up its investment in those closest to the issues.

Key Points: 
  • NEW YORK, July 26, 2023 /PRNewswire/ -- Today, The New York Women's Foundation (NYWF) announced $2.57 million of grantmaking in support of 34 organizations, both new and renewals to existing grantee partners, with a focus on reproductive justice, safety and healing, and emerging organizations and movements.
  • As backlash against the movement for gender, racial, and economic justice continues, The Foundation acts in solidarity with partners by stepping up its investment in those closest to the issues.
  • For the first time since the pandemic began, The Foundation engaged in a participatory grantmaking process in partnership with its Grants Advisory Committee (GAC).
  • The Foundation has a longstanding history of early investment as a core strategy, and these grants are a five-year commitment to these grassroots organizations.

Propanc Biopharma Produces Synthetic Recombinant Proenzymes for Cancer Therapy Targeting Advanced Solid Tumors

Retrieved on: 
Wednesday, July 5, 2023
Research, General Health, Pharmaceutical, Oncology, Genetics, Clinical Trials, Science, Surgery, Biotechnology, FDA, Other Science, Health, OTC Markets Group, PPCB, Pancreatic cancer, US Food Sovereignty Alliance, University, MB, Skin, Calendar, Cancer, Refrigeration, Breast, Brain, Prostate, POP1, Doctor of Philosophy, Lung, US, Protein, Bachelor of Medicine, Bachelor of Surgery, PRP, MD, Patient, Chymotrypsinogen, Natural Resources, Trypsinogen, Kidney, Liver, Growth, BX, US FDA, Pharmacology, Safety, Pharmaceutical industry, Vaccine, Microbiology

The program is designed to produce a backup clinical compound to the Company’s lead product candidate, PRP, which is from bovine origin, targeting metastatic cancer from solid tumors.

Key Points: 
  • The program is designed to produce a backup clinical compound to the Company’s lead product candidate, PRP, which is from bovine origin, targeting metastatic cancer from solid tumors.
  • According to Emergen Research, the global metastatic cancer market is projected to be worth over $111 Billion by 2027.
  • Furthermore, cell viability assays on pancreatic cancer stem cells (Bx PC3-CSCs) suggest that recombinant proenzymes may possess an even stronger anti-tumor effect than pancreatic proenzymes from bovine origin.
  • It started with a comprehensive assessment of our current level of understanding of proenzymes and then describes in detail recombinant technology, culminating in the successful production of a completely synthetic recombinant product.

InventHelp Inventor Develops Improved Metal Sheath Cable Splitting Tool (MBQ-351)

Retrieved on: 
Friday, June 30, 2023
MC, BX, Multimedia, Sale, Electricity

PITTSBURGH, June 30, 2023 /PRNewswire/ -- "I'm an electrician and I needed a quick and easy way to remove metal sheathing from electrical cable ends," said an inventor, from Brooklyn, N.Y., "so I invented the E Z SPLITTER.

Key Points: 
  • PITTSBURGH, June 30, 2023 /PRNewswire/ -- "I'm an electrician and I needed a quick and easy way to remove metal sheathing from electrical cable ends," said an inventor, from Brooklyn, N.Y., "so I invented the E Z SPLITTER.
  • My design would reduce the physical effort and repetitive stress associated with using a manual tool."
  • The invention provides an electrically-powered tool for splitting and removing the end portion of the metal sheath on a BX, MC, or similar electrical cable.
  • 21-MBQ-351, InventHelp, 217 Ninth Street, Pittsburgh, PA 15222, or call (412) 288-1300 ext.

Sutro Biopharma and Blackstone Announce Royalty Financing Collaboration

Retrieved on: 
Monday, June 26, 2023
Partnership, Streptococcus, Senior, BX, TD, ReFrame, Platinum, Sutro, Blackstone, Patient, SAN, Peterborough, STRO, PCV, Spacecraft, Ovarian cancer, NYSE, ROR1, Fine chemical

SOUTH SAN FRANCISCO, Calif and NEW YORK, June 26, 2023 (GLOBE NEWSWIRE) -- Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), and Blackstone (NYSE: BX), today announced the companies have entered into a royalty financing collaboration agreement where funds managed by Blackstone Life Sciences will provide $140 million upfront, with up to an additional $250 million in future milestone payments triggered at various return thresholds, in exchange for Sutro’s 4% royalty, or revenue interest, in the potential future sales of Vaxcyte’s products, including VAX-24 and other products that Vaxcyte develops under its license with Sutro.

Key Points: 
  • - Sutro will receive $140 million upfront and is eligible to receive up to an additional $250 million in future milestone payments in exchange for the royalty, or revenue interest, in potential future sales of Vaxcyte’s products -
    SOUTH SAN FRANCISCO, Calif and NEW YORK, June 26, 2023 (GLOBE NEWSWIRE) -- Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), and Blackstone (NYSE: BX), today announced the companies have entered into a royalty financing collaboration agreement where funds managed by Blackstone Life Sciences will provide $140 million upfront, with up to an additional $250 million in future milestone payments triggered at various return thresholds, in exchange for Sutro’s 4% royalty, or revenue interest, in the potential future sales of Vaxcyte’s products, including VAX-24 and other products that Vaxcyte develops under its license with Sutro.
  • Vaxcyte’s lead candidate, VAX-24, is a Phase 3 ready, 24-valent next-generation pneumococcal conjugate vaccine (PCV) with enhanced serotype coverage and immunogenicity.
  • Vaxcyte’s PCV franchise is enabled by Sutro’s XpressCF® cell-free protein synthesis technology.
  • “We established an important and valued partnership with Blackstone Life Sciences through this transaction, while continuing to capitalize on the value generated from the technologies underlying our cell-free protein synthesis and conjugation platforms,” said Bill Newell, Sutro’s Chief Executive Officer.

NiSource announces agreement to sell minority equity interest in NIPSCO to strengthen financial foundation and support sustainable, long-term growth

Retrieved on: 
Tuesday, June 20, 2023
LLP, Partnership, Senior, BX, GAAP, Latham & Watkins, Goldman Sachs, Interest, Blackstone, FERC, Public expenditure, FFO, NiSource, Investment, McGuireWoods, Water, Webcast, CFO, Growth, Weather, Transport, Letter, Sumitomo Mitsui Banking Corporation, Safety, NYSE, Barclays, Financial services, Public utility, Renewable energy, Cryptocurrency, NIPSCO, Infrastructure

Blackstone invests alongside NiSource in NIPSCO to fund the energy transition and accelerate the reindustrialization of the Midwest.

Key Points: 
  • Blackstone invests alongside NiSource in NIPSCO to fund the energy transition and accelerate the reindustrialization of the Midwest.
  • NiSource reaffirms commitment to Indiana and to its consolidated credit, earnings and growth commitments through 2027.
  • The transaction implies an equity value of $10.8 billion and enterprise value of $14.3 billion for 100% of NIPSCO.
  • NiSource will continue to operate NIPSCO; Blackstone will receive minority rights that are commensurate with its 19.9% equity ownership interest.

Blackstone Announces Majority Investment in New Tradition

Retrieved on: 
Monday, June 12, 2023
Other Communications, Finance, Media, Asset Management, Marketing, Banking, Communications, Professional Services, LLP, Advertising, Partnership, BX, Reef, Solomon Partners, Times Square, Growth, Entrepreneurship, NYSE, Weil, Gotshal & Manges, Cryptocurrency, New Tradition

Blackstone (NYSE:BX) announced today that funds managed by Blackstone Tactical Opportunities (“Blackstone”) have acquired a majority stake in New Tradition Media (“New Tradition” or the “Company”), a leading out-of-home media operator with assets across the nation’s largest markets.

Key Points: 
  • Blackstone (NYSE:BX) announced today that funds managed by Blackstone Tactical Opportunities (“Blackstone”) have acquired a majority stake in New Tradition Media (“New Tradition” or the “Company”), a leading out-of-home media operator with assets across the nation’s largest markets.
  • Founded in 2010, New Tradition develops, owns and operates premium digital and static signage for leading national brands and advertising agencies.
  • Moelis & Company LLC served as a financial advisor to Blackstone, and Weil, Gotshal & Manges LLP served as a legal advisor to Blackstone.
  • Solomon Partners served as a financial advisor to New Tradition, and Lowenstein Sandler LLP served as a legal advisor to New Tradition.

INVESTIGATION ALERT REMINDER: Scott+Scott Attorneys at Law LLP Investigates Blackstone Inc.’s Directors and Officers for Breach of Fiduciary Duties – BX

Retrieved on: 
Wednesday, June 7, 2023
Class Action Lawsuit, Professional Services, Legal, Law, Blackstone, PSSI, U.S. Department of Labor, Office of Inspector General, BX, DOL, NYSE, Blackstone Inc., Judgement, Management

Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, continues to investigate whether certain directors and officers of Blackstone Inc. (“Blackstone” or “Company”) (NYSE: BX) breached their fiduciary duties to Blackstone and its shareholders.

Key Points: 
  • Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, continues to investigate whether certain directors and officers of Blackstone Inc. (“Blackstone” or “Company”) (NYSE: BX) breached their fiduciary duties to Blackstone and its shareholders.
  • If you are a Blackstone shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982, or [email protected] .
  • Scott+Scott is investigating whether members of Blackstone’s board of directors or senior management failed to manage Blackstone in an acceptable manner, in breach of their fiduciary duties to Blackstone, and whether Blackstone and its shareholders suffered damages as a result.
  • If you are a Blackstone shareholder, you may have legal claims against Blackstone’s directors and officers.

Blackstone Completes Acquisition of Majority Stake of Copeland, Formerly Emerson Climate Technologies

Retrieved on: 
Wednesday, May 31, 2023
Environment, Technology, Finance, Professional Services, Sustainability, Software, Green Technology, Electronic Design Automation, Asset Management, Wardwell, Centerview Partners, BX, EMR, Refrigeration, Carbon, Goldman Sachs, HVAC, RBC Capital Markets, Simpson Thacher & Bartlett, Acquisition, Evercore, Engineering, ABL, HVACR, Growth, Heat, Wells Fargo, Guggenheim Partners, NYSE, TLB, Barclays, Cryptocurrency, Renewable energy

Blackstone (NYSE: BX) and Emerson (NYSE: EMR) today announced that private equity funds managed by Blackstone (“Blackstone”) have completed the previously announced acquisition of a majority stake in Emerson’s Climate Technologies business in a transaction valuing the business at $14.0 billion.

Key Points: 
  • Blackstone (NYSE: BX) and Emerson (NYSE: EMR) today announced that private equity funds managed by Blackstone (“Blackstone”) have completed the previously announced acquisition of a majority stake in Emerson’s Climate Technologies business in a transaction valuing the business at $14.0 billion.
  • This closing marks a significant milestone in the HVAC and refrigeration (HVACR) industry leader’s journey to advance the next generation of climate technologies.
  • The new standalone business will be named Copeland – building on the brand’s 100-year legacy, global recognition and influence across the HVACR industry.
  • The ABL revolver, TLB and Senior Secured Notes were led by Wells Fargo, RBC Capital Markets, LLC and Barclays, respectively.