Blackstone GP Stakes business shutters fund at $5.6bn

Nov 23, 2021 | FPEC, News

Blackstone on Monday announced the final close of Blackstone Strategic Capital Holdings II at $5.6bn.

The commingled fund specializes in value-added, long-term minority ownership interests in the management companies of private equity firms, according to a Blackstone news release.

Among the investments the Blackstone GP Stakes business has made this year so far are minority stakes in private equity firms Great Hill Partners, GTCR and Sentinel Capital Partners, the news release said.

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“We are thrilled with the positive response we received from a diverse group of limited partners,” Mustafa M. Siddiqui, senior managing director and head of Blackstone’s GP Stakes business, said in the news release. “This is a strong recognition of Blackstone’s unique value proposition in the GP Stakes market and the rigorous approach our team brings to identifying and investing behind great firms.”

Investors in Blackstone Strategic Capital Holdings II include the $94.1bn Michigan Retirement Systems, Lansing; the $40 billion Texas Permanent School Fund, Austin; and the East Lansing-based Michigan State University’s $3.9bn common investment fund.

Blackstone spokeswoman Paula Chirhart could not be immediately reached for further information.

Source: Pensions & Investments

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