Deals
Blackstone Fund Buys Stake in Property Firm Rockpoint
- Pool will hold a 20 percent passive stake in real estate firm
- Minority stake sales are increasingly common in private equity
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A Blackstone Group LP fund that takes minority stakes in alternative-asset managers is buying part of real estate firm Rockpoint Group.
The Blackstone pool, which in July agreed to take a stake in buyout firm Leonard Green & Partners, has acquired a passive, minority stake in Boston-based Rockpoint, the firms said in a statement Tuesday. The interest is about 20 percent, according to people familiar with the details, who asked not to be identified because the details are private.