BUSINESS WIRE: Blackstone Announces Opening of New Office in Frankfurt, Germany
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NEW YORK & FRANKFURT, Germany --(BUSINESS WIRE)-- 20.03.2023 --
Blackstone (NYSE: BX), the world’s largest alternative asset manager, today announced that it will open a new office in Frankfurt, Germany. The new flagship location will occupy 1,300 square meters in the OMNITURM in Frankfurt’s financial district and serve as a hub for Blackstone in Germany.
The new office will host professionals across Blackstone’s private equity, real estate, and credit businesses, in addition to providing a hub for Blackstone’s private wealth solutions business, which serves investment professionals and individual investors across Europe. Juergen Pinker, Senior Managing Director, will lead on Private Equity, with Jurij Puth, Senior Managing Director, leading on Credit.
Blackstone has been an active and significant investor in Germany for more than two decades, with currently more than 7,000 people employed by its portfolio companies in the country. To date, the firm has been involved in transactions worth more than €17 billion in Germany.
The opening of the new office in Frankfurt highlights Blackstone’s conviction in Germany, and its plan to build on its success and expand its activity in the German market going forward.
Jon Gray, President and COO of Blackstone, said: “We are very excited to be opening a new office in Frankfurt, and to be expanding our presence in Germany. Germany is an economic powerhouse, a great country to do business in and we look forward to investing here for a long time to come.”
Current Blackstone investments in Germany include Leica and Schenck Process. In the past, the firm invested in Scout24, Gerresheimer, as well as Meerwind, the first privately financed offshore wind farm in Germany. The firm also has significant investments in German real estate, particularly logistics assets and commercial real estate where the firm’s current investments total nearly €7 billion of equity. Notable examples include the Messeturm in Frankfurt as well as the Sumatrakontor in Hamburg’s HafenCity. Through its credit business, Blackstone has provided financing of €5.6 billion in the DACH region, including for TK Elevator, formerly part of ThyssenKrupp.
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $975 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, noninvestment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram
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