By Echo Wang NEW YORK (Reuters) -Blackstone is weighing strategic options, including an initial public offering or a sale, for Ancestry.com, the hugely popular platform that helps users trace their genealogical roots, people familiar with the matter said. The buyout firm invited banks to pitch for an IPO of the Lehi, Utah-based company, the people said, asking not to be identified because the information is not public. Requests for proposals were submitted by the banks earlier this week, they added. A p ...

Core Viewpoint - The article indicates that a breaking news story is forthcoming, suggesting significant developments that may impact the industry or company involved [1] Group 1 - The article is currently lacking detailed information and will provide full coverage soon [1]

Group 1 - TaskUs has postponed a shareholder meeting to vote on a take-private offer from Blackstone and the company's co-founders [1] - The delay is intended to provide more time to solicit shareholder support for the deal [1]

Core Insights - Montaka Global Investments released its second-quarter 2025 investor letter, emphasizing a long-term sustainable compounding strategy for its portfolio [1] - The S&P 500 experienced a double-digit drop due to Trump's 'Liberation Day' tariff policy but rebounded nearly 25% amid geopolitical tensions, presenting investment opportunities [1] - Montaka's portfolio is highly concentrated, with the top 10 investments making up 76% of the total [1] Company Focus: Blackstone Inc. (NYSE:BX) - Blackstone Inc. is highlighted as a key investment, with a one-month return of 7.73% and a 52-week gain of 21.04% [2] - As of September 23, 2025, Blackstone's stock closed at $184.91, with a market capitalization of $227.102 billion [2] - Montaka noted the diverse nature of its portfolio, which includes companies from various sectors, including payments, retail, asset management, and audio streaming [3] Hedge Fund Interest - Blackstone Inc. is not among the 30 most popular stocks among hedge funds, with 72 hedge fund portfolios holding the stock at the end of Q2 2025, down from 81 in the previous quarter [4] - While Blackstone is recognized for its investment potential, the company suggests that certain AI stocks may offer greater upside with less downside risk [4]

Core Insights - The demand for computing power driven by the AI revolution is leading to a significant capital influx, with global spending on AI data centers and chips expected to reach $2.9 trillion by 2028, primarily funded by tech giants and debt financing [1] - A powerful alliance of global banks, private credit giants, and specialized lending institutions is forming to meet this unprecedented funding demand, exploring innovative financing structures such as AI chip collateral [1] - The capital race driven by AI is creating substantial opportunities for financial institutions capable of mobilizing funds quickly and managing risks effectively [1] Group 1: Traditional Banks' Role - JPMorgan Chase has taken an aggressive stance in AI data center financing, agreeing to bear the entire risk for a $9.4 billion loan to Crusoe for building large data centers for Oracle and OpenAI [2] - This transaction has propelled JPMorgan to the top of the IJGlobal rankings for telecom project debt underwriting, having also led $38 billion in loans for Oracle's data center projects [2] - Japanese banks, particularly SMBC and MUFG, are gaining traction in the data center financing market due to their cost advantages from Japan's low-interest-rate environment [3] Group 2: Private Credit's Dual Role - Blackstone is playing a dual role in the data center sector, both as an owner of major developers and as a significant lender, with notable transactions including a $7.5 billion debt financing for CoreWeave secured by NVIDIA chips [4] - This "chip collateral loan" model presents risks due to the shorter lifespan of chips compared to other data center assets, but it also offers high returns, with interest rates reaching 10.5% [4] - Blackstone also engages in traditional, lower-risk data center loans, provided that projects have agreements with investment-grade tenants [4] Group 3: Alternative Investors' Involvement - Alternative investors are increasingly entering the market, providing crucial capital for earlier-stage, higher-risk projects, with PIMCO recently authorized as the lead underwriter for a $26 billion debt financing for Meta's new data center [5] - Macquarie Bank is known for supporting early-stage projects, offering various financing options, including a $5 billion preferred equity investment in Applied Digital with a 12.75% annual dividend [5] - Blue Owl and Magnetar Capital are also noteworthy, with Blue Owl investing over $600 million in data center projects and Magnetar participating as a major investor in CoreWeave's innovative loan transactions [6]

Group 1 - Blackstone Group announced a new round of personnel adjustments, appointing Katie Keenan as CEO of BREIT and Global Head of Core+ Business, overseeing a flagship real estate fund with assets exceeding $100 billion (approximately 710 billion RMB) [1][4] - Katie Keenan, a Harvard graduate, joined Blackstone in 2012 and has been instrumental in growing the Blackstone Real Estate Debt Strategies fund to $77 billion [4][2] - Following the unexpected death of Wesley LePatner, Keenan is now leading BREIT, which focuses on real estate and infrastructure investments, and is one of the largest REITs globally [2][4] Group 2 - Keenan expressed optimism about the current market conditions, citing tightening supply, declining financing costs, and a rebound in transaction activity as positive signals [4] - Blackstone also made several personnel appointments, including Zaneta Koplewicz as Senior Managing Director of BREIT and Tim Johnson as CEO of BXMT [5][4] - Johnson highlighted BXMT's strong performance, with a nearly 20% total return year-to-date and $26 billion in new investments deployed last quarter [5][4] Group 3 - Blackstone's Strategic Partners Infrastructure IV fund raised a total of $5.5 billion (approximately 39.2 billion RMB), marking the largest S fund in the global infrastructure sector [6] - The investment strategy of SPI IV focuses on energy, transportation, digital infrastructure, and water and waste management, particularly projects with stable cash flows and long-term contracts [6] - Blackstone is strategically reducing its reliance on traditional office and retail assets, as indicated by the recent sale of three outlet centers in Italy for €410 million (approximately 3.4 billion RMB) [6] Group 4 - In July, Blackstone and Google announced a joint investment of $50 billion in artificial intelligence infrastructure, with Blackstone committing over $25 billion for new data centers and energy infrastructure [7] - Blackstone has made significant investments in the data center sector, including $925 million in a liquid cooling technology data center operator and a $1 billion acquisition of a natural gas power plant [7] - The company currently manages a global data center platform valued at $85 billion, with land reserves supporting future growth exceeding $125 billion [7]

Group 1: Leadership Changes - Blackstone Group announced a new round of personnel adjustments, appointing Katie Keenan as the CEO of BREIT and Global Head of Core+ business, overseeing a flagship real estate fund with assets exceeding $100 billion (approximately 710 billion RMB) [2][8] - Katie Keenan, a Harvard graduate, joined Blackstone in 2012 and has been instrumental in growing the assets of Blackstone's Real Estate Debt Strategies Fund to $77 billion [7][8] - Following the unexpected passing of Wesley LePatner, Keenan is seen as a key figure in Blackstone's leadership, previously considered a potential successor to Stephen Schwarzman [5][8] Group 2: Fund Performance and Strategy - BREIT, under Keenan's leadership, is recognized as one of Blackstone's most successful outcomes, with approximately 90% of its portfolio concentrated in sectors benefiting from long-term structural trends, particularly in data centers [8][12] - Blackstone's recent personnel changes also include Zane Koplewicz being promoted to Senior Managing Director of BREIT and Tim Johnson taking over as CEO of BXMT [9][10] - Blackstone's Strategic Partners Infrastructure IV fund recently completed fundraising, reaching a total size of $5.5 billion (approximately 39.2 billion RMB), focusing on energy, transportation, and digital infrastructure [11] Group 3: Investment Focus - Blackstone is strategically reducing its reliance on traditional office and retail assets, shifting focus towards data centers and infrastructure as core investment areas [12] - The company announced a significant investment of $50 billion in AI infrastructure, with over $25 billion allocated for new data centers and energy infrastructure [13] - Blackstone currently manages a global data center platform valued at $85 billion, with strong land reserves supporting future growth exceeding $125 billion [13]

Core Viewpoint - The private credit market is experiencing significant yield advantages, prompting global investors to shift from public markets to private market allocations [1][2]. Group 1: Yield Advantage - Private credit offers a yield premium of 150-200 basis points over high-yield and investment-grade bonds, making it an attractive investment opportunity for global clients [2][3]. - The spread on corporate bonds has narrowed to its lowest level since the late 1990s, providing a clear relative value advantage for private markets [1][2]. Group 2: Institutional Investment Trends - U.S. insurance companies allocate 35%-40% of their balance sheets to private credit, while Asian insurance companies only allocate about 5%, indicating substantial growth potential in the latter market [1][2]. - The next wave of incremental funding in private credit is expected to come from large institutional investors such as pension funds and sovereign wealth funds, which have a natural demand for high-yield, low-volatility private credit assets [2][3]. Group 3: AI Infrastructure Demand - The demand for AI infrastructure is a key driver of growth in the private credit market, with significant financing needs projected for data centers and other hard assets [3][4]. - JPMorgan estimates that approximately $150 billion in permanent financing will be required for U.S. data center construction between 2026 and 2027, creating substantial opportunities for private lenders [4]. Group 4: M&A Activity and Market Dynamics - The revival of M&A activity is expected to create further opportunities for private lending institutions, with predictions of active deal-making in the fourth quarter [5]. - Despite concerns about sustainability in the private credit market, the overall default rate among non-investment-grade borrowers remains low, indicating strong underlying fundamentals [5].

In a high-profile announcement coinciding with President Donald Trump's state visit to Britain, US investment giant Blackstone pledged a staggering £100 billion (approximately $135 billion) toward UK ... ...

Core Insights - Blackstone has appointed Katie Keenan as the new CEO of its $105 billion real estate fund, BREIT, following the tragic death of former leader Wesley LePatner [1][2] - Keenan has been with Blackstone for 13 years and has held various roles, including co-chief investment officer for the real estate debt business and CEO of Blackstone Mortgage Trust [3][4] - The leadership change highlights Blackstone's commitment to maintaining its position as one of the world's largest landlords, with Keenan's experience in significant deals, such as the $23 billion acquisition of GE's real estate [4][6] Leadership Transition - The previous CEO, Wesley LePatner, was killed in a shooting incident at Blackstone's Manhattan headquarters, which also resulted in the deaths of three others [2] - Tim Johnson, a 14-year veteran at Blackstone, will take over leadership of the mortgage trust following Keenan's promotion [3] Katie Keenan's Background - Keenan was recognized in Business Insider's inaugural rising stars list in 2017 and has successfully led her team in closing over 15 transactions worth $2.75 billion in a single year [5][7] - Prior to her tenure at Blackstone, Keenan worked at Lupert-Adler and G2 Investment Group, and began her career at Lehman Brothers as a real estate investment banker [7]