Global investment management house Blackstone has acquired a leading provider of environmental, social and governance (ESG) software, data, and consulting services, from Genstar Capital. The deal values the acquired business, Sphera, at $1.4bn.
With its head office located in Chicago, Sphera boasts around 1,000 experts from around the world, working with organisations to help them “surface, manage, and mitigate ESG risk” in the areas of EHS & sustainability, operational risk management and product stewardship. The company has more than 3,000 customers in more than 100 countries.
Eli Nagler, senior managing director at Blackstone, said: “The increasing importance of environmental, social, governance issues to businesses globally is a key thematic investing focus for Blackstone. Sphera has established itself as a market leader in the ESG software and solutions space, and we’re excited to partner [..] and to accelerate their impressive growth trajectory.”
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Paul Marushka, president and CEO of Sphera, said: “We are excited to partner with Blackstone on this next stage of our journey as we drive our vision of integrated ESG cloud-based software, data and services. With this significant investment of new capital, Sphera will expand the ESG digital solutions on its SaaS platform with unique data sets and differentiated consultative services throughout the world.”
Blackstone is responsible for some $649bn in assets under management globally including those focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds.
Source: Environment Analyst
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