Blackstone to land $1.71bn CMBS refi for US industrial portfolio

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 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.

Blackstone Inc. completed a DKK 15 billion (USD 2.29 billion) investment for a 24.7% stake in Danish renewables developer Eurowind Energy, according to the company. The deal gives the U.S. firm a minority position in the business.

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.