Blackstone

• Medallia Recapitalization and Ownership Transition Led by Blackstone, Apollo, and FS KKR

  June 19, 2026

  Buyer

  Blackstone, Apollo, FS KKR Capital Corp (FSK)

  Target

  Medallia

  Seller

  Thoma Bravo

  Industry

  Cloud & SaaS

  Location

  Virginia, United States

  Type

  Recapitalization

  Medallia entered into a recapitalization agreement with its lenders that will reduce outstanding debt and provide $150 million of new capital. Upon completion, Medallia’s ownership will transition from Thoma Bravo to an investor group led by Blackstone, Apollo, and FS KKR Capital Corp.

• GNI Group to Acquire Ayumi Pharmaceutical Holdings from Blackstone for About ¥44.8 Billion

  June 8, 2026

  Buyer

  GNI Group Co., Ltd., Blackstone (as new shareholder in GNI Group post-deal)

  Target

  Ayumi Pharmaceutical Holdings Co., Ltd.

  Seller

  Shareholders led by Blackstone

  Industry

  Healthcare Services

  Location

  Tokyo, Japan

  Type

  Buyout

  GNI Group Co., Ltd. agreed to acquire 100% of the shares of Ayumi Pharmaceutical Holdings Co., Ltd. from shareholders led by Blackstone for an enterprise value of about ¥44.8 billion. The acquisition will make Ayumi a wholly owned subsidiary of GNI and expand GNI’s commercial presence in Japan, particularly in pain management, rheumatology, and related therapeutic areas.

• Blackstone and Google Form $5B Equity JV for TPU Compute-as-a-Service

  May 20, 2026

  Buyer

  Blackstone, Google

  Target

  New U.S.-based TPU compute-as-a-service joint venture company (reported as “N1”)

  Industry

  IT Services

  Location

  United States

  Type

  Growth capital

  Blackstone and Google announced a joint venture to create a U.S.-based “TPU cloud” compute-as-a-service business using Google Cloud TPUs. Blackstone will commit $5 billion in initial equity (majority ownership) and the JV targets 500 megawatts of capacity online by 2027, with total project value projected at about $25 billion including leverage.

• Anthropic-Backed Enterprise JV Acquires Fractional AI

  May 20, 2026

  Buyer

  Anthropic, Blackstone, Hellman & Friedman

  Target

  Fractional AI

  Industry

  AI & Machine Learning

  Location

  California, United States

  Type

  Buyout

  Anthropic’s Blackstone- and Hellman & Friedman-backed enterprise services joint venture acquired Fractional AI, an applied AI implementation firm based in San Francisco. The acquisition provides the new (as-yet-unnamed) venture with Fractional’s delivery team to help midsize businesses deploy Anthropic’s Claude into core operations.

• CPP Investments Co-Invests in Proudreed Alongside Blackstone

  May 14, 2026

  Buyer

  Canada Pension Plan Investment Board (CPP Investments), Blackstone

  Target

  Proudreed

  Industry

  Logistics & Distribution

  Location

  Île-de-France, France

  Type

  Growth capital

  CPP Investments announced a €400 million co-investment in Proudreed, one of France’s largest last-mile urban logistics platforms, alongside funds managed by Blackstone. The investment provides CPP Investments with a significant minority interest as the platform scales its multi-let logistics and light industrial portfolio across France.

• Blackstone and Tinicum to Acquire Senior plc in $1.9 Billion Deal

  April 11, 2026

  Buyer

  Blackstone, Tinicum

  Target

  Senior plc

  Seller

  Senior plc shareholders (via board recommendation), Alantra (largest shareholder)

  Industry

  Aerospace & Defense

  Location

  United Kingdom

  Type

  Buyout

  Senior plc has agreed to a £1.4 billion (about $1.9 billion) cash takeover by a consortium of private equity firms Blackstone and Tinicum. The offer values Senior at 300 pence per share, and the board has unanimously recommended the deal to shareholders after a competitive process.

• Accor to Sell 30.56% Stake in Essendi to Blackstone-Led Consortium for Up to €975 Million

  April 3, 2026

  Buyer

  Blackstone, Colony Investment Management

  Target

  Essendi (formerly AccorInvest)

  Seller

  Accor SA

  Industry

  Real Estate

  Location

  France

  Type

  Divestiture

  Accor has signed an MoU to sell its 30.56% stake in Essendi (formerly AccorInvest) to a consortium led by Blackstone and Colony Investment Management for consideration of up to €975 million, including €675 million at closing and a potential earn-out. The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and final shareholder agreement terms, as Essendi’s hotel portfolio is gradually converted into franchise contracts.

• EPL Limited to Merge With Indovida to Create Emerging Markets Packaging Leader

  March 30, 2026

  Buyer

  EPL Limited, Indorama Ventures, Blackstone

  Target

  Indovida

  Industry

  Manufacturing

  Location

  India

  Type

  Buyout

  EPL Limited has agreed to merge with Indovida, a rigid PET packaging platform backed by Indorama Ventures, in a deal valuing the combined entity at about $2 billion. The transaction combines EPL’s flexible packaging operations with Indovida’s rigid plastics capabilities to form a scaled, multi-format packaging platform focused on emerging markets, with Indorama Ventures becoming the majority shareholder post-completion.

• Consortium Including Blackstone to Acquire Royal Challengers Bengaluru from United Spirits

  March 28, 2026

  Buyer

  Aditya Birla Group, The Times of India Group, Bolt Ventures, Blackstone

  Target

  Royal Challengers Bengaluru

  Seller

  United Spirits Limited

  Industry

  Media & Entertainment

  Location

  Karnataka, India

  Type

  Buyout

  A consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone has agreed to acquire 100% of Royal Challengers Bengaluru from United Spirits Limited in a transaction valuing the franchise at INR 166.6 billion (about $1.78 billion). The deal covers both the men’s IPL team and the women’s WPL team and remains subject to regulatory approvals from the BCCI and the Competition Commission of India.

• Blackstone Invests $250 Million in Advanced Digital Gaming Technology (ADGT) Payments Platform

  March 26, 2026

  Buyer

  Blackstone, Raya Holding, NRT Technology, Sightline Payments

  Target

  Advanced Digital Gaming Technology (ADGT)

  Industry

  Payments & Fintech

  Location

  Abu Dhabi, United Arab Emirates

  Type

  Growth capital

  Blackstone has invested $250 million in Advanced Digital Gaming Technology (ADGT), a newly established payments and data intelligence platform headquartered in Abu Dhabi. ADGT—formed with Raya Holding, NRT Technology, and Sightline Payments—will provide payments, compliance, and data infrastructure for regulated land-based and online digital gaming markets, initially focusing on the United Arab Emirates and broader Middle East & Africa.

• MW Group-Blackstone Real Estate-DivcoWest JV Takes Alexander & Baldwin Private in $2.3 Billion Deal

  March 19, 2026

  Buyer

  MW Group (affiliate investor group), Blackstone Real Estate, DivcoWest, Blackstone (funds affiliated with Blackstone Real Estate)

  Target

  Alexander & Baldwin

  Industry

  Real Estate

  Location

  Hawaii, United States

  Type

  Buyout

  Alexander & Baldwin agreed to be taken private in an all-cash transaction valued at about $2.3 billion (including outstanding debt). A joint venture formed by an affiliate of MW Group and funds affiliated with Blackstone Real Estate and DivcoWest acquired all outstanding Alexander & Baldwin common shares for $21.20 per share, and the deal has completed following shareholder approval on March 9, 2026.

• MacLean Power Systems Completes Merger with Power Grid Components

  March 4, 2026

  Buyer

  MacLean Power Systems, Funds affiliated with Blackstone Energy Transition Partners, Blackstone, Affiliate of Centerbridge Partners

  Target

  Power Grid Components

  Industry

  Industrial Services

  Location

  South Carolina, United States

  Type

  Buyout

  MacLean Power Systems and Power Grid Components completed their previously announced merger, combining electrical transmission, distribution, substation, and communications infrastructure equipment portfolios under the MacLean Power Systems name. Funds affiliated with Blackstone Energy Transition Partners and Blackstone became the majority owners of the combined company, and Centerbridge will make a new investment. Financial terms were not disclosed.

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