Private Equity: Blackstone Group Filings Update for Q1 2020
Blackstone Group (NYSE:BX) continued to deploy capital as the market declined in the first quarter of the year. On the private side, Blackstone has been investing in life sciences deals, casino operators, energy companies, and, of course, more warehouses.
According to their latest 13F filing, they have made similar purchases in the public equity markets as well.
Blackstone Group 13D Filings
Blackstone has been investing in some of the hardest-hit areas of the real estate markets. They have been among the few buyers of hotel REITs during the first quarter. Blackstone invested in shares of Host Hotels (NYSE:HST), Pebblebrook Hotel Trust (NYSE: PEB), and Extended Stay America (NASDAQ: STAY). Starwood Capital was also a buyer of Extend Stay America and is its largest shareholder. Not all hotel companies will survive this shutdown and recession, but those that do will recover and go onto be fantastic investments for patient well-capitalized investors like Blackstone.
The firm was also buying office REITs, including Vornado (NYSE:VNO), Columbus Property Trust, and Kilroy Realty (NYSE:KRC). In the apartment markets, they were buyers of Equity Residential (Q.R.) and Apartments Investment Management (NYSE:AIV) during the quarter.
More on Blackstone’s Filings
As they are the second-largest owner of industrial properties in the world, I expect to see them buying industrial REITs, and they did not disappoint. Blackstone invested almost $40 million in shares of Duke Realty (DRE). Duke owns 156 million rentable square feet of industrial assets in 20 major logistics markets in the United States.
Blackstone was also aggressive in energy markets. Particularly midstream Master Limited Partnerships. The firm invested $378,626,000 in Energy Transfer (NYSE:ET), $325 million in Enterprise Products (NYSE:EPD), and $260 million in MPLX (MPLX).
Blackstone also upped his stake in Cheniere Energy Partners, L.P. (NYSE:CQO) by 2.2 million shares. They now own 205,611,384 shares worth $5,553,564,000.
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