Blackstone Strategic Capital Holdings’s Minority investment in Rockpoint Group

Evercore served as financial advisor to Rockpoint. Kirkland & Ellis LLP served as legal counsel to Blackstone and Simpson Thacher served as legal counsel to Rockpoint.

Blackstone’s Strategic Capital Holdings Fund has acquired a passive, minority equity stake in Rockpoint, a Boston-based global real estate investment management firm. Terms of the transaction were not disclosed.

Rockpoint co-founder Bill Walton said: “This permanent capital investment by Blackstone is a testament to our team and investment programs. It will further strengthen our firm while preserving its entrepreneurial culture.”

Rockpoint co-founder Keith Gelb added: “We have great respect for Blackstone’s business and the brand it has established across asset classes. Our firms share a strong commitment to excellence and integrity. We look forward to having Blackstone as a partner.”

Blackstone’s Strategic Capital Holdings Fund, a permanent capital vehicle which specializes in acquiring long term interests in leading alternative asset managers, is managed by Blackstone Alternative Asset Management (BAAM), the firm’s hedge fund solutions business.

Rockpoint Group, L.L.C. (Rockpoint) is a real estate private equity firm and Registered Investment Adviser with its headquarters in Boston and with additional primary offices in San Francisco and Dallas. Rockpoint employs a fundamental value approach to investing and focuses on select product types located primarily in major coastal markets in the United States.

Kirkland & Ellis LLP represented Blackstone (NYSE: BX) with a team including Erica Berthou, Charles Fellers and Carrie VanFleet, and associates David Perechocky and Tana Wilner, and included partners Robert Sutton, Michael Beinus and Meredith Levy, and associates Phil Giglio, Marc Holloway and Noah Qiao.

The Simpson Thacher team included Elizabeth Cooper (Picture), Jason Williams, Jay Bishop-Boros and Samantha Alman (M&A); Jonathan Karen, Amanda Moore, Townshine Wu and Kyndra Adair (Funds); Marcy Geller, Jacqueline Clinton and William Smolinski (Tax); Jeanne Annarumma (ERISA); William Golden (Capital Markets); and Andrew Blau (Executive Compensation and Employee Benefits).

Involved fees earner: Elizabeth Cooper – Simpson Thacher & Bartlett; Jason Williams – Simpson Thacher & Bartlett; Joseph Bishop-Boros – Simpson Thacher & Bartlett; Jonathan Karen – Simpson Thacher & Bartlett; Amanda Moore – Simpson Thacher & Bartlett; Townshine Wu – Simpson Thacher & Bartlett; Kyndra Jamison Adair – Simpson Thacher & Bartlett; Marcy Geller – Simpson Thacher & Bartlett; Jacqueline Clinton – Simpson Thacher & Bartlett; William Smolinski – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett; Andrew Blau – Simpson Thacher & Bartlett; William Golden – Simpson Thacher & Bartlett; Charles Fellers – Kirkland & Ellis; Marc Holloway – Kirkland & Ellis; David Perechocky – Kirkland & Ellis; Michael Beinus – Kirkland & Ellis; Meredith Levy – Kirkland & Ellis; Robert Sutton – Kirkland & Ellis; Phil Vincent Giglio – Kirkland & Ellis; Tana Wilner – Kirkland & Ellis; Noah Qiao – Kirkland & Ellis; Erica Berthou – Kirkland & Ellis; Carrie VanFleet – Kirkland & Ellis;

Law Firms: Simpson Thacher & Bartlett; Kirkland & Ellis;

Clients: Blackstone; Rockpoint Group, L.L.C.;

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Author: Ambrogio Visconti