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Blackstone's Strategic Capital Holdings Fund will acquire a minority stake in Boston-based real estate private equity firm Rockpoint Group.
Terms of the deal have not yet been disclosed, but the two companies have an established professional relationship having partnered on several debt and equity transactions over the years.
“This permanent capital investment by Blackstone is a testament to our team and investment programs. It will further strengthen our firm while preserving its entrepreneurial culture,” Rockpoint co-founder Bill Walton said in a statement.
Blackstone’s Strategic Capital Fund focuses on the acquisition of long-term stakes in alternative asset managers, while Rockpoint purchases assets with potential for long-term value.
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