Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world according to people with knowledge of the matter The liquidation is underway as founder Himanshu Gulati prepares to leave for a separate fund, said the people, who asked not to be named discussing private information. Gulati is joining London-based Marshall Wace This subscription does not include access to ft.com or the FT App Essential digital access to quality FT journalism on any device Complete digital access to quality FT journalism with expert analysis from industry leaders Terms & Conditions apply Discover all the plans currently available in your country Digital access for organisations. Includes exclusive features and content. See why over a million readers pay to read the Financial Times. Share via...Gift this articleSubscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe Blackstone real estate debt strategies managing director Issa Chehab has left the US private capital giant after a decade Chehab joined Blackstone’s Sydney real estate team in 2015 SaveLog in or to save articleShareCopy link Gift 5 articles to anyone you choose each month when you subscribe. Follow the topics, people and companies that matter to you. Sign up for free newsletters and get more CNBC delivered to your inbox and more info about our products and services © 2025 CNBC LLC. All Rights Reserved. A Division of NBCUniversal Data also provided by As part of its continued push into the private wealth channel alternative asset behemoth Blackstone has tapped Jennifer Abate as a senior managing director and head of the RIA channel for its Blackstone Private Wealth division “The scale and track-record of Blackstone’s platform means it is a one-stop-shop for private markets for advisors and the investors they serve,” Abate said in a statment where she spent over 30 years and last served as managing director responsible for building and leading the financial institutions group “As we continue our mission to bring institutional-quality investing to individual investors via their advisors RIAs are a key channel for us to broaden our reach,” Lohrer said in a statement “We see strong demand from individual investors to gain exposure to private markets with Blackstone and Jen’s experience and expertise means we are well-equipped to capture the tremendous opportunities we see in this space.” Related:MAI Capital Management Taps iCapital for In-House Alts Platform Blackstone currently has $271 billion under management in the private wealth channel globally and a team of more than 300 solely focused on wealth the firm’s first private multi-asset credit interval fund the firm recently announced a partnership with Vanguard and Wellington Management that plans to offer multi-asset portfolios blending private and public assets although the firms have not yet outlined what form the portfolios will take David Bodamer covers investments for WealthManagement.com including hosting the Wealth Management Invest podcast model portfolios and alternative investing He previously covered commercial real estate for more than 20 years for Wealth Management Real Estate Commercial Property Executive and Shopping Centers Today He also previously served as editorial director for Waste360 RIA Edge 100: Growing Rapidly but Responsibly What truly sets peak performing retirement plans apart Tech Stacks & Growth Strategies for Future-Ready Advisory Firms Ask the Experts: Grow Your Practice with Philanthropy: Comparing DAFs and Private Foundations See how advisors are combining active and passive strategies for optimal portfolio results Registered in England & Wales with number 01835199 please click the box below to let us know you're not a robot Get the most important global markets news at your fingertips with a Bloomberg.com subscription Blackstone Private Wealth has hired Lazard veteran Jennifer Abate in a newly created role as senior managing director and head of the asset manager’s RIA channel Abate will lead the firm’s RIA expansion strategy overseeing home office coverage and sales across the wealth division’s US offices She is based in New York and will report to Joe Lohrer head of Americas sales for Blackstone Private Wealth ‘As we continue our mission to bring institutional-quality investing to individual investors via their advisors RIAs are a key channel for us to broaden our reach,’ Lohrer stated in a press release announcing Abate’s hire. Building up the tech talent pipeline for a job-ready workforce is critical for a thriving Miami tech ecosystem with more than 90% of Miami’s companies being small businesses supporting the development of an emerging tech talent workforce for these companies is also crucial for Miami’s economic development and for combatting brain drain Miami Dade College announced today a new comprehensive internship program that is a win-win for both its students and companies throughout the tech ecosystem The Miami Startup Ecosystem Internship Program supported by a $1 million grant from the Blackstone Charitable Foundation and JPMorganChase will enable more than 200 MDC students to secure paid 8- to 12-week internships at tech startups and scalable small businesses across Miami’s entrepreneurial ecosystem The two-year program will be managed by The Idea Center at Miami Dade College through Blackstone LaunchPad “Students with paid internships are twice as likely to land a job after graduation compared to non-interns – we’re doubling down on our commitment to their success and to Miami’s future “By supporting opportunities that empower students more resilient economy and helping Miami remain a hub for innovation and growth for years to come,” said Maura Pally Executive Director of the Blackstone Charitable Foundation MDC and participating employers will share the cost of student wages ($20/hour) making it easier for businesses to host interns while ensuring students gain meaningful The in program will be carried out in partnership with Tech Equity Miami a consortium deploying $100 million over five years to help create and expand pathways into tech-based careers “We are excited to collaborate with Miami Dade College to help create pathways to employment in high-demand industries.” Blackstone LaunchPad will elevate students’ internship experiences with a summer professional development series featuring expert-led workshops all designed to help students excel in their roles from day one and also build connections for their long-term success By pairing professional development opportunities with real-world internships the program bridges the gap between classroom learning and practical application equipping a new generation of tech talent with the skills and confidence needed to excel in the workforce The program also aligns with a larger collective impact initiative in Miami-Dade County that removes entry barriers into the tech industry and expands economic opportunities in the high-paying tech sector It joins local initiatives such as Miami Tech Works Career Source South Florida and others that are strongly focused on preparing emerging tech talent “This program is a shining example of how public-private partnerships can open doors and fuel the growth of our local innovation economy,” said Miami-Dade Mayor Daniella Levine Cava who participated in a community event at MDC’s Idea Center announcing the new internship program MDC serves over 125,000 students from more than 160 nationalities and has connected students with career-building opportunities through partnerships with organizations such as PortMiami the Miami Startup Ecosystem Internship Program extends hands-on learning opportunities to students interested in Miami’s growing startup and small business sectors we are committed to providing students with hands-on learning experiences that prepare them for the jobs of the future,” said Miami Dade College President Madeline Pumariega “By leveraging public-private partnerships and a collective impact approach we are helping students secure meaningful career opportunities that benefit both them and the businesses that drive Miami’s economy.” Issues with signing in? Click here Need help signing in? Abate will be responsible for setting the RIA channel’s strategy as well as leading its home office coverage and sales View all events > Your email address is already registered with us. Don't have an account? Please check your spam or junk folder just in case Please try using other words for your search or explore other sections of the website for relevant information Our team is working diligently to resolve the issue Thank you for your patience and understanding (ELAN) announced Monday the sale of certain royalties and commercial milestones associated with XDEMVY (lotilaner ophthalmic solution) 0.25% for the human health application of lotilaner to alternative asset manager Blackstone Inc Elanco shares were gaining around 2 percent to trade at $9.94 certain future tiered royalties and commercial milestones associated with lotilaner was bought by funds affiliated with Blackstone Life Sciences and Blackstone Credit & Insurance The agreement applies to certain tiered royalties associated with the U.S net sales of XDEMVY from April 2025 through August 2033 and certain commercial milestones The company noted that the monetization of the non-core asset will be used to accelerate debt reduction Elanco will repay portions of its outstanding term loans on a pro-rata basis which is expected to reduce interest expense by approximately $10 million This will be offset by the sale of approximately $10 million of royalties based on Elanco's initial 2025 guidance Elanco exclusively licensed lotilaner to Tarsus Pharmaceuticals (TARS) for exploration as a solution to several unmet human health needs XDEMVY became the first lotilaner-based product approved for human use and the only FDA-approved medicine for treatment of Demodex blepharitis (DB) a common eyelid disease in humans caused by Demodex mites "Elanco's team of scientific experts is focused on identifying and developing molecules to generate high-impact innovation but in adjacent industries to create broader value As we continue to focus on launching our recent innovation and accelerating our core business sales growth in 2025 this transaction delivers incremental cash that advances our deleveraging goals making high 3x net leverage a real possibility by the end of 2025." For More Such Health News, visit rttnews.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq This data feed is not available at this time These symbols will be available throughout the site during your session These instruments will be available throughout the site during your session Smart Portfolio is supported by our partner TipRanks. By connecting my portfolio to TipRanks Smart Portfolio I agree to their Terms of Use ImportantBlackstone president sees private credit growing to $30 trillion from $2 trillion todayRefinitivLess than 1 min readBXJonathan Gray, president and chief operating officer of the Blackstone Group, said on Monday that he expects the total addressable size of the private equity market to eventually reach $30 trillion from approximately $2 trillion today. Gray, speaking to the Milken Institute's global conference, did not provide a time frame in which he expects that growth to materialize. "The main event now is shifting ... to investment grade private credit, the financing of the real economy," Gray said. "Energy infrastructure, consumer finance, fleet finance, real estate, there's just an enormous opportunity." Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView GREENFIELD, Ind., May 5, 2025 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) today announced the sale of certain future tiered royalties and commercial milestones associated with XDEMVY® (lotilaner ophthalmic solution) 0.25% to funds affiliated with Blackstone Life Sciences and Blackstone Credit & Insurance for $295 million in cash Monetization of this non-core asset will be used to accelerate debt reduction positioning Elanco to achieve an expected net leverage ratio of 3.9x to 4.3x adjusted EBITDA by the end of 2025 Elanco will repay portions of its outstanding term loans on a pro-rata basis offset by the sale of approximately $10 million of royalties based on Elanco's initial 2025 guidance In 2019, Elanco exclusively licensed lotilaner to Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS) for exploration as a solution to several unmet human health needs but in adjacent industries to create broader value," said Jeff Simmons "As we continue to focus on launching our recent innovation and accelerating our core business sales growth in 2025 this transaction delivers incremental cash that advances our deleveraging goals making high 3x net leverage a real possibility by the end of 2025 We appreciate Blackstone's collaborative investment to further Elanco's goals and their recognition of the positive potential impact of XDEMVY on millions of DB patients in the U.S." "Elanco's innovation served as the basis for XDEMVY's strong efficacy and safety profile and Tarsus' executional strength has led to its rapid adoption and commercial success We are pleased to partner with both leading pharmaceutical companies and back this first-in-class treatment that addresses a pervasive and damaging eyelid disease," said Craig Shepherd and Kiran Reddy Elanco retains the rights to all royalty payments on net sales outside the U.S as well as any future human applications of lotilaner beyond ophthalmic solutions. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of the federal securities laws statements concerning the expected financial impacts of the royalty sale on our financial results plans for using the cash we receive in the sale and expected financial results for 2025. Forward-looking statements are based on our current expectations and assumptions regarding our business Because forward-looking statements relate to the future they are subject to inherent uncertainties risks and changes in circumstances that are difficult to predict our actual results may differ materially from those contemplated by the forward-looking statements Important risk factors that could cause actual results to differ materially from those in the forward-looking statements include regional including our ability to recognize the expected financial and cash generation benefits of the transaction and additional factors that could cause actual results to differ materially from forward-looking statements described in the company's latest Form 10-K and Form 10-Qs filed with the Securities and Exchange Commission We caution you against relying on any forward-looking statements which should also be read in conjunction with the other cautionary statements that are included elsewhere in this press release Any forward-looking statement made by us in this press release speaks only as of the date thereof We undertake no obligation to publicly update or to revise any forward-looking statement About Blackstone Life SciencesBlackstone Life Sciences (BXLS) is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors By combining scale investments and hands-on operational leadership BXLS helps bring to market promising new medicines and medical technologies that improve patients' lives and currently has $12 billion in assets under management About Blackstone Credit & Insurance Blackstone Credit & Insurance ("BXCI") is one of the world's leading credit investors We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses BXCI is also a leading provider of investment management services for insurers helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit Investor Contact: Tiffany Kanaga (765) 740-0314 [email protected]Media Contact: Colleen Dekker (317) 989-7011 [email protected]   Elanco Animal Health Incorporated (NYSE: ELAN) today recognizes the second annual National Parvo Awareness Day Elanco Animal Health Incorporated (NYSE: ELAN) will announce its first quarter 2025 financial results on Wednesday Banking & Financial Services Health Care & Hospitals Animal Welfare Animals & Pets Do not sell or share my personal information: By Claudiu Tiganescu NVIDIA expanded its presence in Silicon Valley with the $123 million acquisition of Santa Clara Commerce Park a 251,000-square-foot flex office campus adjacent to the company’s headquarters Blackstone’s Link Logistics previously owned the property The campus is subject to a $2.7 billion CMBS loan encumbering 138 properties Citibank originated the note in 2022 and since then resulting in principal paydowns totaling $552 million as of July 2024 the campus is roughly 7 miles from San Jose’s central business district Route 101 and Interstate 280 run within 4 miles The San Jose Mineta International Airport is less than 6 miles east READ ALSO: 2025 Office Investment Update the property debuted between 1959 and 1973 in addition to amenities such as an on-site deli and gym The artificial intelligence chipmaker is in full expansion mode NVIDIA laid out plans to manufacture its artificial intelligence supercomputers entirely in the U.S the company expects to produce half a trillion dollars of AI infrastructure across the nation within the next four years Earlier this year, NVIDIA purchased Sobrato Organization’s 500,000-square-foot campus That property is also close to its headquarters a 550,000-square-foot asset that the chipmaker purchased for $374 million from Preylock Holdings last year The Bay Area led the Western Markets in terms of sales with an office investment volume clocking in at $727 million during the first quarter Assets traded on average for $200 per square foot just shy of Los Angeles’ average of $286 per square foot but significantly below San Diego ($665 per square foot) Silicon Valley’s office investment retained momentum going into April. Last month, LinkedIn acquired a 120,000-square-foot research and development asset in Sunnyvale Please enable JS and disable any ad blocker TrendingCommercial New YorkABlackstone in pole position on 590 Madison AveWith owner eyeing $1.1B price tag it could be NYC’s most expensive office deal in years Listen to this article00:001xBlackstone Group has emerged as the odds-on favorite to win the bidding contest for 590 Madison Avenue the Plaza District office tower that went up for sale earlier this year asking north of $1 billion The private equity giant is among a handful of investors who submitted a second round of bids for the former IBM Building and are awaiting its owner the State Teachers Retirement System of Ohio Other bidders in contention include SL Green according to people familiar with the process There’s even a high-net-worth private buyer rumored to be in the mix has one big advantage: The company has plenty of dry powder to finance the purchase itself The other bidders would likely have to seek out an investor to close the deal introducing an element of counterparty risk especially cautious institutions like pension funds generally favor buyers who can provide a high certainty of closing as the capital markets are more volatile following President Trump’s tariff tantrum A spokesperson for Blackstone declined to comment and a representative for Ohio Teachers did not immediately respond The pension fund put the 1 million-square-foot tower up for sale earlier this year SIGN UPPeople familiar with the process said they doubt the seller will hit its asking price it would be the first New York City sale to crack the $1 billion mark since Google parent company Alphabet bought its Hudson Square office building at 550 Washington Street for $1.97 billion in 2022 Eastdil Secured is running the sale process and is expected to make a decision on a deal soon Some of the finalists have recently made office purchases after years of sitting on the sidelines or — as in Blackstone’s case — have been actively distancing themselves from the office sector SL Green just closed on its $130 million purchase of the office condominium at 500 Park Avenue. The REIT firm previously bought 450 Park Avenue in 2022 for $445 million — which was then its first office purchase since 2018 Tishman Speyer is in contract to buy the 150,000-square-foot building at 148 Lafayette Street in Soho for around $120 million, as TRD reported last week And RXR in January acquired a 49% stake in 1211 Sixth Avenue in a deal that valued the building at $1.2 billion Blackstone, meanwhile, is negotiating to buy a stake in the 1.9 million-square-foot 1345 Sixth Avenue Ever since it decided to hand back the keys on its office building at 1740 Broadway in 2022 the private equity giant has been publicly talking about its more than decade-long pullback from the office sector Offices made up about 60 percent of the company’s global real estate portfolio at the time it bought Sam Zell’s Equity Office Properties for $39 billion in 2007 a real estate investment trust (“REIT”) that owns and operates or has an interest in manufactured housing (MH) and recreational vehicle (RV) communities today announced that it has completed the initial closing (the “Initial Closing”) of the sale of its interests in the Safe Harbor Marinas business (“Safe Harbor”) the largest marina and superyacht servicing business in the United States to an affiliate of Blackstone Infrastructure The transaction accelerates Sun’s strategy of focusing on its core MH and RV portfolio and significantly enhances its leverage profile and financial flexibility Sun’s pre-tax cash proceeds after transaction-related costs are approximately $5.25 billion Pursuant to the terms of the transaction agreement certain properties representing approximately $250 million of value were not part of the Initial Closing The sales of those properties remain subject to the receipt of certain third-party consents which may delay the timing of any such sale or may prevent any such property from being sold at all “I am extremely pleased to announce the completion of the sale of Safe Harbor which expedites our goal of repositioning Sun as a pure-play MH and RV focused company,” said Gary A “We are executing on our stated objectives by taking thoughtful and deliberate actions we believe provide Sun with the strategic focus and financial flexibility to support disciplined growth in our core business we expect to deliver value to shareholders by substantially reducing leverage allocating funds for core asset acquisitions including potential tax-efficient purchases I would like to thank the entire Safe Harbor team for their partnership and wish them continued success in the future.” The Company intends to implement a capital allocation plan that reflects a balanced tax efficient approach to optimize shareholder value through significantly lower leverage greater financial flexibility to drive sustainable cash flow growth Using net proceeds received from the Initial Closing the Company intends to repay approximately $3.3 billion of debt inclusive of estimated prepayment costs This includes repayment of approximately $1.6 billion outstanding under the Company’s senior credit facility and the planned payoff of approximately $740 million of secured mortgage debt that carries a weighted average annual interest rate of 5.3% the Company intends to redeem approximately $950 million of outstanding unsecured senior notes that carry a weighted average coupon of 5.6% which is expected to occur on May 10 The Company intends to manage its balance sheet in a leverage range of approximately 3.5x to 4.5x on a long-term basis the Company expects to generate annualized interest expense savings of approximately $160 million and reduce the weighted average interest rate on Sun's outstanding indebtedness to approximately 3.5% the Company allocated approximately $1.0 billion into 1031 exchange escrow accounts to fund potential future MH and Annual RV acquisitions on a tax efficient basis is subject to successful identification and closing of target acquisitions The Company’s Board of Directors has authorized a stock repurchase program of up to $1.0 billion of the Company's outstanding common stock Repurchases under the program may be made at management's discretion from time to time using a variety of methods which may include open market transactions all in accordance with the rules of the SEC and other applicable legal requirements number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors including the market price of the Company’s stock and compliance with the terms of the Company’s outstanding indebtedness The stock repurchase program does not obligate the Company to acquire any particular amount of common stock and the repurchase program may be suspended or discontinued at any time at the Company’s discretion acted as lead financial advisor and BofA Securities BMO Capital Markets and Citigroup also acted as financial advisors to the Company Latham & Watkins LLP and Taft Stettinius & Hollister LLP acted as legal advisors to the Company on the transaction LLC served as communications advisor to the Company The Company is scheduled to report first quarter earnings for 2025 on Monday and to host its earnings call at 11:00am ET on Tuesday the Company expects to provide updated guidance for the remainder of 2025 reflecting the financial impact of the Initial Closing of proceeds known at the time of the earnings announcement This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933 and the Company intends that such forward-looking statements will be subject to the safe harbors created thereby any statements contained in this press release that relate to expectations trends or prospective events or developments and similar expressions concerning matters that are not historical facts are deemed to be forward-looking statements Words such as “forecasts,” “intend,” “goal,” “estimate,” “expect,” “project,” “projections,” “plans,” “predicts,” “potential,” “seeks,” “anticipates,” “should,” “could,” “may,” “will,” “designed to,” “foreseeable future,” “believe,” “scheduled,” "guidance" "target" and similar expressions are intended to identify forward-looking statements although not all forward looking statements contain these words These forward-looking statements reflect the Company’s current views with respect to future events and financial performance both general and specific to the matters discussed in or incorporated herein some of which are beyond the Company’s control uncertainties and other factors may cause the Company’s actual results to be materially different from any future results expressed or implied by such forward-looking statements In addition to the risks disclosed under “Risk Factors” contained in the Company’s Annual Report on Form 10-K for the year ended December 31 and the Company’s other filings with the Securities and Exchange Commission from time to time uncertainties and other factors include but are not limited to: Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statement was made The Company undertakes no obligation to publicly update or revise any forward-looking statements included or incorporated by reference into this document changes in the Company's expectations or otherwise Although the Company believes that the expectations reflected in the forward-looking statements are reasonable the Company cannot guarantee future results All written and oral forward-looking statements attributable to the Company or persons acting on the Company's behalf are qualified in their entirety by these cautionary statements or had an interest in a portfolio of 645 developed properties comprising approximately 176,390 developed sites and approximately 48,760 wet slips and dry storage spaces in the United States Fernando Castro-CaratiniChief Financial Officer(248) 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For information on our privacy practices see our Privacy Policy Our dedicated team works directly with private wealth managers family offices and financial advisors to help their clients access alternative solutions Please contact your financial advisor to learn more 当社グループの特定の拠点にお問い合わせを希望される場合は、「当社の拠点」（英語サイト）をご参照ください。 [email protected] 最新のプレス・リリースはこちら（英語サイト）をご確認ください。 Three Syracuse University Libraries’ Blackstone LaunchPad (LaunchPad) student start-up teams won prizes in the finals of the New York Business Plan Competition (NYBPC) powered by Upstate Capital Association of NY Participants in the New York Business Plan Competition Lindy Truitt and student from University of Buffalo Carolyn Fernandes G’25 (College of Visual and Performing Arts) won $2,000 as second prize winner in the Products and Hardware category Solace designs fidget products into clothing for neurodivergent people Lindy Elizabeth Truitt ’25 (College of Visual and Performing Arts) and Anjaneya Sanjay Padwal G’25 (School of Information Studies) also won a $2,000 second place prize in the Food and AgTech track SipSafe+ uses a ring or stir stick that glows when drinks have been spiked with drugs Jack Venerus ’27 (School of Information Studies) WingStat helps airplane brokers have reliable data about the aircraft they are buying or selling Syracuse University teams received the most awards of any single school in the statewide competition The NYBPC attracts some of New York state’s best student entrepreneurs The competition promotes entrepreneurial opportunities for college students from across the state who pitch their business plans to seasoned investors They also receive the opportunity to engage with mentors and judges from the business community The finals event connects students with business professionals provides experiential learning opportunities through competitions connects entrepreneurs with resources at the Entrepreneurship Expo and awards up to $100,000 in cash prizes to help seed new ventures Winners of the 2025 School of Information Studies’ (iSchool) Raymond von Dran (RvD) Fund for Student Entrepreneurship iPrize competition and the Hunter Brooks Watson (HBW) Spirit of Entrepreneurship Award were announced on April 10 at the Blackstone LaunchPad in Bird… One of the many benefits of the new partnership between the nationally recognized Women Leaders in Sports and the Falk College of Sport and Human Dynamics is the mentorship that Women Leaders in Sports executives are providing to Falk students… The residential MBA program at the Martin J Whitman School of Management is now ranked No Whitman School of Management seniors—Evan Kalish (finance and business analytics) and Talia St Angelo (finance and marketing)—were selected by Poets&Quants for Undergrads to be highlighted in its annual Best & Brightest Undergraduate Business Majors feature Community Bank has donated $10,000 to Women Igniting the Spirit of Entrepreneurship (WISE) Women’s Business Center at the Martin J WISE is a Women’s Business Center dedicated to empowering Central… If you need help with your subscription, contact sunews@syr.edu Elanco has reached an agreement to sell future royalties and commercial milestones linked to Xdemvy 0.25%, a human health product involving lotilaner, to Blackstone Life Sciences and Blackstone Credit & Insurance (BX, Financial) This strategic move is aimed at reducing Elanco's debt with the company targeting a net leverage ratio between 3.9x and 4.3x adjusted EBITDA by the end of 2025 The funds will allow Elanco to pay down portions of its term loans likely reducing interest expenses by $10 million which balances the estimated $10 million offset from the royalty sale according to Elanco’s initial 2025 projections is notable for being the only FDA-approved treatment for Demodex blepharitis sales of Xdemvy until August 2033 along with certain commercial achievements while retaining rights to all international royalties and any future applications of lotilaner outside of ophthalmic uses Based on the consensus recommendation from 23 brokerage firms, Blackstone Inc's (BX, Financial) average brokerage recommendation is currently 2.4 For the complete transcript of the earnings call, please refer to the full earnings call transcript Alteri Wealth LLC purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter according to its most recent Form 13F filing with the SEC The fund purchased 7,479 shares of the asset manager's stock Several other hedge funds have also recently modified their holdings of BX Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% in the 4th quarter Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the last quarter Hager Investment Management Services LLC bought a new position in shares of Blackstone during the fourth quarter valued at approximately $28,000 Centricity Wealth Management LLC bought a new stake in shares of Blackstone during the 4th quarter worth approximately $30,000 Murphy & Mullick Capital Management Corp purchased a new position in Blackstone during the 4th quarter valued at $33,000 Berbice Capital Management LLC bought a new stake in shares of Blackstone during the fourth quarter worth $34,000 Hedge funds and other institutional investors own 70.00% of the company's stock Shares of NYSE:BX traded down $1.27 on Monday 2,640,131 shares of the company were exchanged compared to its average volume of 3,766,767 a quick ratio of 0.71 and a debt-to-equity ratio of 0.61 The stock's 50 day moving average price is $138.43 and its 200 day moving average price is $163.07 has a 1-year low of $115.66 and a 1-year high of $200.96 The firm has a market capitalization of $99.31 billion a price-to-earnings-growth ratio of 1.07 and a beta of 1.67 Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday The asset manager reported $1.09 earnings per share for the quarter missing analysts' consensus estimates of $1.22 by ($0.13) Blackstone had a net margin of 20.99% and a return on equity of 19.58% The firm had revenue of $2.76 billion during the quarter compared to analyst estimates of $2.95 billion the company posted $0.98 earnings per share Sell-side analysts predict that Blackstone Inc The firm also recently announced a quarterly dividend April 28th will be given a dividend of $0.93 per share The ex-dividend date of this dividend is Monday This represents a $3.72 dividend on an annualized basis and a yield of 2.73% Blackstone's dividend payout ratio is presently 112.05% BX has been the subject of a number of research analyst reports Barclays lifted their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday lifted their target price on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday Cowen restated a "buy" rating on shares of Blackstone in a research note on Monday TD Cowen lowered their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday Piper Sandler reduced their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock Blackstone has a consensus rating of "Hold" and a consensus target price of $154.82 View Our Latest Report on BX MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on.. While Blackstone currently has a Moderate Buy rating among analysts top-rated analysts believe these five stocks are better buys View The Five Stocks Here Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools Aristotle Capital Management LLC decreased its stake in Blackstone Inc. (NYSE:BX - Free Report) by 1.1% in the 4th quarter according to the company in its most recent disclosure with the Securities and Exchange Commission The firm owned 6,296,919 shares of the asset manager's stock after selling 71,198 shares during the period Blackstone accounts for about 2.1% of Aristotle Capital Management LLC's holdings Aristotle Capital Management LLC owned 0.87% of Blackstone worth $1,085,715,000 as of its most recent filing with the Securities and Exchange Commission Other hedge funds and other institutional investors have also recently modified their holdings of the company boosted its stake in Blackstone by 1.3% during the fourth quarter now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after acquiring an additional 889,286 shares in the last quarter Geode Capital Management LLC increased its position in Blackstone by 3.0% in the 4th quarter Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock valued at $2,637,266,000 after buying an additional 444,887 shares in the last quarter Northern Trust Corp grew its stake in Blackstone by 10.8% in the fourth quarter Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock valued at $1,209,707,000 after acquiring an additional 681,512 shares during the period raised its position in shares of Blackstone by 6.6% during the fourth quarter now owns 5,987,702 shares of the asset manager's stock worth $1,032,400,000 after purchasing an additional 371,677 shares during the period Norges Bank acquired a new stake in shares of Blackstone in the 4th quarter worth about $974,448,000 Institutional investors and hedge funds own 70.00% of the company's stock A number of equities research analysts recently commented on the company Piper Sandler lowered their price target on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research report on Tuesday Barclays boosted their price target on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday Citigroup reduced their target price on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday Bank of America cut their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research report on Friday increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research note on Friday Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company Check Out Our Latest Analysis on Blackstone BX stock traded down $1.27 during midday trading on Monday The company had a trading volume of 2,640,131 shares has a 52 week low of $115.66 and a 52 week high of $200.96 The stock has a market cap of $99.31 billion Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday The asset manager reported $1.09 earnings per share (EPS) for the quarter compared to the consensus estimate of $2.95 billion Blackstone had a return on equity of 19.58% and a net margin of 20.99% equities research analysts expect that Blackstone Inc will post 5.87 earnings per share for the current fiscal year April 28th will be paid a dividend of $0.93 per share This represents a $3.72 annualized dividend and a dividend yield of 2.73% Blackstone's dividend payout ratio (DPR) is presently 112.05% 1.00% of the stock is owned by corporate insiders Unlock the timeless value of gold with our exclusive 2025 Gold Forecasting Report Explore why gold remains the ultimate investment for safeguarding wealth against inflation Whether you're planning for future generations or seeking a reliable asset in turbulent times this report is your essential guide to making informed decisions Mercer Global Advisors Inc. ADV reduced its stake in Blackstone Inc. (NYSE:BX - Free Report) by 23.5% in the fourth quarter according to the company in its most recent disclosure with the Securities & Exchange Commission The firm owned 85,885 shares of the asset manager's stock after selling 26,373 shares during the period ADV's holdings in Blackstone were worth $14,808,000 as of its most recent SEC filing Other institutional investors and hedge funds have also made changes to their positions in the company Keel Point LLC increased its stake in shares of Blackstone by 8.6% in the fourth quarter Keel Point LLC now owns 3,939 shares of the asset manager's stock valued at $679,000 after purchasing an additional 312 shares during the period Davidson Kahn Capital Management LLC acquired a new stake in Blackstone in the 4th quarter valued at about $1,352,000 Headland Capital LLC bought a new stake in Blackstone during the fourth quarter worth approximately $337,000 Rehmann Capital Advisory Group raised its position in shares of Blackstone by 5.7% during the fourth quarter Rehmann Capital Advisory Group now owns 22,802 shares of the asset manager's stock worth $3,932,000 after purchasing an additional 1,235 shares during the period Comerica Bank lifted its stake in Blackstone by 1.9% during the fourth quarter Comerica Bank now owns 228,331 shares of the asset manager's stock valued at $39,369,000 after buying an additional 4,181 shares in the last quarter 70.00% of the stock is currently owned by institutional investors and hedge funds Several research analysts have weighed in on the stock Barclays upped their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday Bank of America reduced their price objective on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research report on Friday JMP Securities reissued a "market outperform" rating and issued a $165.00 price target on shares of Blackstone in a research report on Thursday Morgan Stanley cut their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company Read Our Latest Report on BX Shares of Blackstone stock traded down $1.27 on Monday 2,640,131 shares of the stock were exchanged compared to its average volume of 3,766,766 The firm's 50 day moving average is $138.43 and its 200-day moving average is $163.07 The firm has a market cap of $99.31 billion The company has a debt-to-equity ratio of 0.61 a quick ratio of 0.71 and a current ratio of 0.67 has a one year low of $115.66 and a one year high of $200.96 Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday The business had revenue of $2.76 billion during the quarter will post 5.87 EPS for the current fiscal year The business also recently declared a quarterly dividend This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.73% Blackstone's payout ratio is currently 112.05% Need to stretch out your 401K or Roth IRA plan Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates Elanco's President & CEO on Zenrelia Approved by FDA Blackstone announced the official launch of its latest fund to target the RIA market Blackstone Private Multi-Asset Credit and Income Fund (BMACX) is the firm’s first private multi-asset credit interval fund and the launch on the heels of raising $10.2 billion for its private equity product Join industry leaders who rely on Alternatives Watch’s comprehensive coverage of alternative investments across asset classes © 2019-2024 BMV Digital Inc Customize your consent preferences for Cookie Categories and advertising tracking preferences for 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complete transaction means Safe Harbor can now “direct greater focus toward the Marina redevelopment project,” Corbett wrote, the city will also “revisit the cost and process of redeveloping the marina independently.” “This dual-track approach ensures we are positioned to proceed with the redevelopment as quickly as possible following the appropriate City Council approval,” Corbett wrote. According to records obtained by the Tampa Bay Times, city officials emailed a draft agreement to developers Feb. 14 and asked for feedback. The city’s manager of the marina and port, David Wirth, said the city would like to bring the contract to City Council in March. Wirth followed up again March 26. Jason Hogg, principal of Waterview Marinas, representing Safe Harbor, apologized for the delay because of “the overall transaction and transition with our new partner/owner to be.” Hogg said the two parties were better off putting together a “major issues list” before trading revisions of contracts “without a mutual understanding on any larger conceptual issues.” Corbett told council members in his Thursday email that his team received comments from Safe Harbor about the draft lease agreement Wednesday night. “While it is still too early to asses the full scope and impact of their feedback, our team is committed to a thorough and timely review over the next week,” he wrote. The deal in place gives Safe Harbor, which operates the Harborage Marina at Bayboro, a five-year lease to complete a $48 million overhaul of the marina by Oct. 1, 2029, in exchange for managing the marina and keeping that revenue. Because of the city charter‘s strong protections of the waterfront, the city can’t grant a longer timeframe without a voter referendum approving that contract. Safe Harbor must renovate all marina docks, slips, pilings, restrooms, comfort stations, lounge buildings, pump-out stations and all marina-related amenities. Safe Harbor would pay the city a 10% cut on slip and dock rents and 5% cut on retail and fuel sales. The city and Safe Harbor could work out another five-year extension or a longer lease with voter approval, or the city could buy out Safe Harbor for $48 million that can’t be paid for with property taxes. Safe Harbor would also repair and replace the marina’s seawalls with city reimbursement. Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information For press inquiries, contact [email protected] [email protected] TrendingCommercial New YorkABlackstone walks back Rialto’s Jeff Sutton allegationIs the King of Retail getting special treatment Listen to this article00:001xJon Gray’s Blackstone Group has entered the fray that is Rialto’s foreclosure case against Jeff Sutton Rialto filed a lawsuit against Sutton and his Wharton Properties alleging the landlord defaulted on an $8 million loan backing a retail property in the Flatiron District at 144 Fifth Avenue Rialto claimed that after Sutton defaulted in February 2024 he failed to forward rents collected at the property to the special servicer After The Real Deal reported on the lawsuit and its allegations Thursday a spokesperson for Blackstone sent a statement on the matter requesting it be attributed as a joint statement between Rialto and Wharton Properties “Wharton Properties has provided the information which makes clear that there was no misappropriation of rents Wharton and Rialto continue to work together to reach a resolution that benefits all parties involved,” the statement read SIGN UPBlackstone and Jeff Krasnoff’s Rialto Capital Advisors are partners in a joint venture that purchased a 20 percent stake in Signature Bank’s $17 billion loan pool after the FDIC took over the troubled bank in 2023 which is how they came to acquire Sutton’s loan Gray and Sutton are certainly acquainted with one another, and Blackstone’s involvement raises questions about how Rialto treats smaller mom-and-pop borrowers compared to larger Rialto sent Wharton a letter in October pointing out its obligation to forward the rents and notifying the landlord that its failure to do so triggered the guarantee The firm filed its lawsuit six months later certainly enough time for both sides to clarify the issue Representatives for Rialto and Blackstone did not respond when asked if Rialto would amend its complaint to remove the allegation of the misappropriated rents Many of Rialto’s borrowers have alleged the company manufactures reasons to declare a loan is in default and collect extra fees few get an intervention from Blackstone acknowledging a misunderstanding a platform that connects pet owners to walkers and sitters is buying Dublin-based marketplace Gudog as it eyes more buyouts and organic growth in Europe 2025 6:30 PM2 min readShare on WhatsAppTake Stock Of The Week AheadGet all the latest Share Market trends and news to set you up for the week ahead reported first-quarter revenue of $42.31 billion beating analyst estimates of $41.39 billion The company reported first-quarter earnings of $6.43 per share easily beating analyst estimates of $5.21 per share Don't forget to check out our premarket coverage here reported first-quarter fiscal year segment revenues of $2.763 billion Distributable earnings (DE) rose 11% Y/Y to $1.41 billion Fee-related earnings increased 9% Y/Y to $1.26 billion posted better-than-expected first-quarter financial results Citigroup analyst Paul Lejuez upgraded TJX Companies from Neutral to Buy on April 3 and raised the price target from $128 to $140 Check This Out: Benzinga does not provide investment advice Elanco Animal Health (ELAN) has announced a significant financial maneuver by selling the royalty and milestone rights for XDEMVY® (lotilaner ophthalmic solution) to Blackstone for an upfront payment of $295 million sales royalties from April 2025 through August 2033 and will greatly contribute to Elanco's strategic efforts to pay down debt The transaction is expected to facilitate Elanco's aim to reduce its interest expenses by approximately $10 million matched by the expected $10 million in royalty revenues for 2025 that the company relinquished as part of the deal Elanco anticipates this will aid in achieving a net leverage ratio target of 3.9x to 4.3x adjusted EBITDA by the end of 2025 Developed through a 2019 licensing agreement with Tarsus Pharmaceuticals XDEMVY is recognized as the first FDA-approved treatment for Demodex blepharitis it strategically retains the rights to non-U.S royalties and potential future human applications of lotilaner beyond ophthalmic treatments This strategic financial restructuring is designed to bolster Elanco's balance sheet while minimizing impacts on immediate operational performance Sunny days and warm weather are back in action — which means barbecue season has officially begun you need a grill that can live up to the challenge we did some digging and discovered that a few of our favorite grills are sporting major discounts Sure, the best grills can set you back a few hundred (or thousand) dollars — but fortunately outdoor retailers everywhere are gearing up for the season with epic sales We're seeing unbeatable deals starting at $99 from popular brands like Weber Purchasing a grill can be a big investment 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Genesis grill can set you back thousands of dollars and high-performance burners for flare-free grilling she enjoys trying out new exercise classes you will then be prompted to enter your display name.