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Blackstone raises $30.4bn for latest real estate fund.
HPS Investment Partners raises $17bn for its latest debt fund.
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Brookfield Infrastructure, a private equity firm, agreed to acquire Triton International , a lessor of intermodal freight containers, in a $13.3bn.
"We believe this transaction provides an excellent outcome for all of Triton's stakeholders. The sale price provides significant value to our investors and represents a 35% premium to yesterday's closing share price. For our long-term shareholders, this transaction crystallizes a total shareholder return of approximately 700% since the 2016 merger of Triton and TAL International. For our customers and employees, Brookfield Infrastructure's significant resources and long-term investment horizon will support Triton's franchise, underpin our commitment to providing unrivaled service, and support continued investment in our growing business," Brian M. Sondey, Triton CEO.
Triton International is advised by Goldman Sachs , Appleby and Sullivan & Cromwell LLP . Brookfield is advised by Bank of America , MUFG , Mizuho , Torys LLP , Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by Eric Otness and Thomas Greenberg ) and Teneo .
LANXESS , a specialty chemicals company, and Advent , a private equity investor, completed the acquisition of the engineering materials business of Royal DSM, a corporation active in the fields of health, nutrition and materials, for €3.7bn ($4bn).
"LANXESS will once again become significantly less dependent on economic fluctuations. In addition, we as LANXESS will strengthen our balance sheet with the proceeds from the transaction and gain new scope for the further development of our Group. With the new joint venture, we are forging a strong global player in the field of high-performance polymers. The portfolios, value chains and global positioning of the two businesses complement each other perfectly. With its innovative products, the joint venture will be able to play a key role in shaping future developments - for example in the field of electromobility. In Advent, we have a strong and reliable partner with profound experience in the chemical industry and our customer industries," Matthias Zachert, LANXESS CEO.
Advent was advised by Latham & Watkins (led by Oliver Felsenstein ), NautaDutilh (led by Joost den Engelsman ) and FGS Global . LANXESS was advised by Rothschild & Co , Gleiss Lutz , Hengeler Mueller (led by Carsten Schapmann and Martin Ulbrich ), Stibbe (led by Egbert Vroom ). Royal DSM was advised by EY , Centerview Partners , J.P. Morgan and Clifford Chance (led by Dr. Stefan Simon and Gregory Crookes ).
SATS Ltd. , Asia's provider of food solutions and gateway services, completed the acquisition of Worldwide Flight Services (WFS) , an air cargo logistics provider and providers of ground handling and technical services, from Cerberus Capital, a private equity firm, for €2.25bn ($2.45bn).
"This is a transformational opportunity for SATS and our proposed acquisition of WFS will create a global leader that can become the go-to provider of mission critical aviation services. From our hub in Singapore, and in our newly combined markets, SATS and WFS will be at the heart of global trade flows, operating in the world's busiest airports and supporting the biggest companies," Kerry Mok, SATS President and CEO.
Worldwide Flight Services was advised by Goldman Sachs , Linklaters (led by Robert Cleaver and Tracey Lochhead ), Brunswick Group and Deloitte . SATS was advised by Bank of America , Citi , DBS Bank , PwC , AZB & Partners (led by Nandish Vyas ), Accura (led by Kaare Johan Stolt ), Allen & Gledhill LLP , Latham & Watkins (led by Sharon Lau and michael sturrock ) and FGS Global . Cerberus Capital was advised by WongPartnership LLP (led by Wai King Ng ) and Joele Frank .
Blackstone raises $30.4bn for latest real estate fund.
Blackstone had raised $30.4bn for its latest global real estate fund, as the private equity behemoth looks to double down on the industry, Reuters reported.
The fund, called Blackstone Real Estate Partners X, is 48% bigger than the asset management giant's previous real estate fund which closed in 2019.
"Sector selection has never been more critical as we witness the bifurcation of performance within real estate," Ken Caplan, Blackstone Global Co-Head of Real Estate.
HPS Investment Partners raises $17bn for its latest debt fund.
HPS Investment Partners, LLC , a private equity firm, closed HPS Strategic Investment Partners V at $17bn in investible capital, which includes $12bn in equity commitments. The total well exceeds the original equity fundraising target of $9.5bn. The manager's fifth flagship junior debt fund focuses on financing solutions for large, established firms in North America and Western Europe.
"We believe the current market environment presents a rich set of opportunities for us to pursue as companies continue to seek strategic partners and scaled platforms that can develop and execute bespoke financing solutions with speed and certainty," Scot French, HPS Governing Partner.
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