Blackstone closes buy of 24.7% stake in Eurowind Energy

Joseph Baratta, head of Blackstone's private equity, plans to leave after 28 years. The business grew from $50B to $454B under his leadership. Blackstone confirmed his departure but no replacement is planned. Baratta's future board role is unclear.

Blackstone is refinancing a US industrial portfolio, securing a $1.71bn CMBS loan. The portfolio includes 74 facilities and 2 land parcels. This move may impact Blackstone's financial flexibility and investor sentiment.

Blackstone launched the Blackstone Private Markets Fund (BXPM), its first perpetual fund for non-U.S. investors, offering access to its private equity, infrastructure, real estate, and credit businesses. The fund is part of Blackstone Portfolio Solutions, a unit within its Private Wealth business. Blackstone manages $1.3 trillion in assets.

Analysts updated ratings on three financial stocks: Zurich Insurance Group (ZFSVF) received a Hold rating with a CHF520 price target, Abacus Global Management (ABX) a Buy with a $13.50 target, and Blackstone Group (BX) a Buy with a $140 target. Consensus ratings and targets vary, with ZFSVF at Moderate Buy ($712.30), ABX at Strong Buy ($14.13), and BX at Moderate Buy ($145.50).

Blackstone estimates over $350 million in realized revenues for Q3 2026, with 90% from performance revenues. The estimate includes gains from investment realizations and non-fee related incentives, but excludes future gains, losses, or fee income. Actual results may differ materially.

IDP Education rejected a $494 million takeover bid from Blackstone, calling it opportunistic. The offer was A$2.50 per share, but the stock fell 7% to A$2.01 post-rejection. IDP's valuation has dropped 60% in a year due to stricter immigration policies hurting student placements. The company's net profit fell 90% over two years to A$13.3 million.