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Blackstone

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Massachusetts Ice Cream Shop Goes Viral After Owner Defends Teen Staff Against Rude Customer

Dave Forgit and Kevin Miller, owners of Coldstuff Ice Cream in Blackstone, Massachusetts, gained national attention after posting a profane Facebook message defending their teenage employees against a rude customer. The incident, which began over a 25-cent price discrepancy on October 4, resulted in a viral post that received over 275,000 likes and 8,000 shares. The owners emphasized that their staff are children making their first jobs, urging customers to maintain a positive attitude. The post generated widespread support, leading to increased business and a surge in social media followers, while the owners clarified they were not targeting older customers as a whole but addressing specific instances of disrespect.

via CBS News|

#blackstone #coldstuff-ice-cream #dave-forgit

business14 days ago•1 min saved

Blackstone’s Joseph Baratta to Exit by Year-End, Exploring Public Service Role

Joseph Baratta, Blackstone’s top private equity executive, is preparing to leave the firm by the end of 2026 to potentially pursue a career in government. He will not be replaced; the division will be led by existing heads like Martin Brand. The move follows a wave of recent executive departures and occurs amid muted fund performance and a surge in public listings.

via Financial Times|

#blackstone #business #joseph-baratta

business1 month ago•2 min saved

Blackstone Real Estate Chief Meghji to Depart as Internal Pair Takes Helm

Nadeem Meghji, Blackstone's Global Head of Real Estate, is leaving after nearly two decades with the firm. He joined during the 2008 downturn and becomes the sole real estate head after Kathleen McCarthy's departure last year. Blackstone will elevate two internal leaders—David Levine and Giovanni Cutaia—to co-lead the real estate business, signaling continuity. Meghji previously led a major push into data centers, a sector Blackstone has aggressively expanded, with about $140 billion in data-center assets globally and a roughly $608 billion global real estate portfolio overseeing around 800 professionals.

via Bisnow|

#blackstone #business #data-centers

business2 months ago•12 min saved

Blackstone's Jersey Mike's IPO Bets on Employee Ownership

Blackstone is taking Jersey Mike's public at a roughly $7 billion valuation after reshaping the chain with professional managers, a new board, and a broad employee-ownership plan funded by Blackstone’s payout. Corporate employees can receive cash or equity bonuses of 0–200% of eligible pay, with tenure-based adjustments; franchisees and non-corporate staff are excluded. Cancro stepped down as CEO and a new CEO was installed as expansion accelerates (UK/Ireland master franchise, 7,500 US restaurants planned) and debt refinancing supports growth. Blackstone will retain a large voting stake after the IPO.

via Business Insider|

#blackstone #business #employee-ownership

finance2 months ago•21 min saved

Blackstone's Jersey Mike's IPO doubles as an employee-ownership play

Blackstone is taking Jersey Mike's public at about a $7 billion valuation, transforming the founder-run chain into a professional company with new leadership and a broad employee-ownership plan funded by Blackstone’s payout. Corporate employees can receive cash or equity worth 0%–200% of eligible pay, while franchisees and store workers aren’t eligible. Cancro steps from CEO to board, Blackstone keeps roughly two-thirds of voting power, and expansion plans include a larger store pipeline and master franchise moves to Ireland (plus existing Canada expansion). This marks the first public outing of Blackstone’s broad ownership approach.

via Yahoo Finance|

#blackstone #employee-ownership #finance

finance2 months ago•18 min saved

Blackstone’s Schwarzman warns on AI exuberance as earnings rise on selective bets

Blackstone posted strong Q2 results with distributable earnings of $2 billion ($1.52 per share), up 26% year over year, driven by AI investments and strategic deals. CEO Stephen Schwarzman said the firm has been selective in the AI infrastructure boom to manage risk and monitor for excess exuberance, while highlighting major AI plays including a $35 billion Broadcom/Apollo platform and an AI cloud venture with Alphabet.

via Yahoo Finance|

#ai-infrastructure #artificial-intelligence #blackstone

business3 months ago•4 min saved

Jersey Mike’s files for IPO as Blackstone targets multi‑billion windfall

Jersey Mike’s, the New Jersey-based sandwich chain owned by Blackstone, has filed for an initial public offering as Blackstone seeks a roughly $10–12 billion valuation, aiming to unlock a quick windfall after acquiring a majority stake in 2024 for about $8 billion. The company posted $724 million in revenue and $55 million in net income last year, with same-store sales up 3%, and plans to use IPO proceeds to reduce part of its $2.1 billion debt tied to the Blackstone deal. The move underscores Blackstone’s outlook for more public listings and exits in a buoyant market, with co-investors including ADIA benefiting from the transfer of value.

via Financial Times|

#blackstone #business #ipo

business3 months ago•2 min saved

Jersey Mike’s tees up IPO amid steady growth and franchising strength

Jersey Mike’s filed to go public on the NYSE under JMKE, citing 2025 same-store sales up 3% (50% since 2020), net income of $55 million on $724 million revenue, and $4.3 billion in annual system sales across about 3,300 mostly franchised locations. Blackstone previously owned a majority stake; CEO Charlie Morrison (ex-Wingstop) leads the chain with founder Peter Cancro remaining involved as it eyes expansion.

via CNBC|

#blackstone #business #franchising

business3 months ago•5 min saved

Medallia lands with lenders after Thoma Bravo’s $5bn loss

A Blackstone-led consortium, including Apollo and KKR, will take control of Medallia from Thoma Bravo and inject $150 million to cut its debt, wiping out nearly all of Thoma Bravo’s roughly $5 billion investment in what’s described as one of private equity’s biggest losses. Thoma Bravo had admitted overpaying for Medallia, whose debt exploded after a high-growth buyout in 2021, and had resisted further cash injections while lenders pressed for relief. The deal aims to stabilize Medallia and fund next‑phase AI investments, while the lender-backed takeover marks a rare PE setback at scale.

via Financial Times|

#blackstone #business #medallia

business4 months ago•56 min saved

Private capital backs Anthropic’s Broadcom-backed AI compute expansion

Apollo Global Management and Blackstone are financing a $35 billion expansion of Anthropic's AI computing capacity using Broadcom's custom chips, starting with 1 gigawatt of capacity to be deployed at Fluidstack sites mid-2026 and targeting more than 20 GW for leading AI labs by 2028 (including OpenAI); Apollo leads the initial tranche alongside Blackstone's Credit & Insurance unit, in a deal that reinforces Broadcom's AI chip push and ties Anthropic to Google-assisted capacity (about 3.5 GW) as part of a broader private‑capital funding drive to scale AI infrastructure.

via Reuters|

#ai-computing #anthropic #apollo-global-management

business4 months ago•11 min saved

Blackstone Clamps Withdrawals as Private Credit Funds Face Outflows

Blackstone capped redemptions at its $79 billion BCRED private credit fund in Q2 after redemption requests approached 10% of shares (versus about 7.9% prior quarter), setting a 5% withdrawal limit to replace immediate liquidity with longer-term returns. The move aims to curb forced asset sales amid growing investor retreat from private assets, with analysts noting demand was in line with expectations and Blackstone’s stock rose about 8% on the news. The report also notes slower overall private-credit inflows and ongoing redemption pressure across peer funds like Partners Group.

via HuffPost|

#asset-management #bcred #blackstone

business4 months ago•0 min saved

Blackstone caps withdrawals from flagship private credit fund amid redemptions

Blackstone has capped withdrawals from its flagship Blackstone Private Credit (BCRED) fund at 5% of shares after redemption requests hit 10% in Q2 (about $4.5 billion) for the $79 billion non-traded BDC; Blackstone shares were up about 1.6% in premarket trading.

via CNBC|

#bcred #blackstone #business

business4 months ago•1 min saved

Blackstone closes record $13.1B Asia private equity fund

Blackstone closed its largest Asia-focused private equity fund, Capital Partners Asia III, at $13.1 billion, well above its $10 billion target. It has invested more than $7 billion across 12 Asia deals in the last 24 months (including Neysa in India, TechnoPro in Japan, and JUNO in Korea) and has 15 exits in the region as markets rebound, underscoring growing capital appetite in Asia amid tougher fundraising overall.

via CNBC|

#asia-private-equity #blackstone #business

technology4 months ago•7 min saved

Google, Blackstone back neocloud venture to challenge Nvidia in AI compute

Alphabet plans to start selling its Tensor Processing Units (TPUs) to select customers and is partnering with Blackstone on a capital-heavy neocloud compute-as-a-service venture. With an initial push toward hundreds of megawatts of TPU capacity, the move could pressure Nvidia’s dominance in AI accelerators and intensify competition with smaller players CoreWeave and Nebius in the rapidly growing neocloud market.

via The Motley Fool|

#blackstone #coreweave #google-tpus

technology4 months ago•3 min saved

Blackstone and Google Launch TPU Cloud JV to Expand AI Compute

Blackstone and Google are forming a US-based joint venture to offer TPU-based compute-as-a-service, starting with a $5 billion equity commitment to deploy 500 MW of capacity by 2027 and scale up over time, with Google providing TPUs and tech and Blackstone handling data-center infrastructure and energy.

via Blackstone|

#blackstone #cloud-compute #data-centers