Latest news with #BXCI
Yahoo
01-05-2025
- Business
- Yahoo
Blackstone Launches BMACX – Blackstone Private Multi-Asset Credit and Income Fund
NEW YORK, May 01, 2025--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced the launch of Blackstone Private Multi-Asset Credit and Income Fund (BMACX), the firm's first private multi-asset credit interval fund (the "Fund"). Investors can now access BMACX through select registered investment advisers. BMACX aims to provide individual investors with a one-stop, private multi-asset credit solution designed to access strategies across Blackstone's leading $465 billion credit platform. The Fund offers ticker execution with daily subscriptions, quarterly liquidity, and low investment minimums with capital invested immediately. "We believe BMACX can be a powerful core portfolio building block to tap the expanding credit markets," said Heather von Zuben, Chief Executive Officer of BMACX. "It brings the full breadth of Blackstone's credit platform to individuals in what we see as an investor friendly structure." "We will aim to deliver high quality, diversified income with lower volatility than traditional fixed income products by investing across a diverse range of compelling credit assets," said Dan Oneglia, Chief Investment Officer of BMACX. "We believe this multi-strategy approach positions investors to take advantage of attractive relative value, particularly in dynamic market environments." BMACX will invest across a diverse range of credit assets, including private corporate credit, asset based and real estate credit, structured credit, and liquid credit, seeking to deliver attractive and stable income through a monthly distribution while managing risk. BMACX builds on Blackstone's leadership position delivering private credit solutions to individual investors, with dedicated vehicles focused on direct lending available since 2018. Blackstone announced that BMACX was declared effective by the U.S. Securities and Exchange Commission in March. More information is available at About Blackstone Credit & InsuranceBlackstone Credit & Insurance ("BXCI") is one of the world's leading credit investors. Our investments span the credit markets, including private investment grade, asset based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. 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. About Blackstone Private WealthBlackstone Private Wealth was established to answer the growing demand for Blackstone products from high-net worth investors. Partnering with many of the world's largest private banks and wealth management firms as well as family offices, Blackstone's Private Wealth team packages and delivers the full breadth of Blackstone's alternative product capability to these firms and their clients and provides ongoing product and advisor support, as well as education and training around alternatives. Forward-Looking StatementsCertain information contained in this communication constitutes "forward looking statements" within the meaning of the federal securities laws. These forward-looking statements can be identified by the use of forward-looking terminology, such as "outlook," "indicator," "believes," "expects," "potential," "continues," "may," "can," "will," "could," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates", "confident," "conviction," "identified" or the negative versions of these words or other comparable words thereof. These may include financial estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward-looking statements are inherently subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BMACX believes these factors also include but are not limited to those described under the section entitled "Risk Factors" in its prospectus, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or BMACX's prospectus and other filings). Except as otherwise required by federal securities laws, BMACX undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. This press release must be read in conjunction with the BMACX prospectus in order to fully understand all the implications and risks of an investment in BMACX. This press release is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the prospectus, which should be read carefully before investing and is available at Before investing you should carefully consider BMACX's investment objectives, risks, charges and expenses. This and other information is in BMACX's prospectus. An investment in the Fund involves a high degree of risk. There is no assurance that the Fund will achieve its investment objectives. An investment in the Fund is suitable only for investors who can bear the risks associated with limited liquidity. Shares of the Fund are not listed on any securities exchange and the Fund does not expect any secondary market will develop for the shares. The Fund intends to utilize leverage and may utilize leverage to the maximum extent permitted by law for investment and other general corporate purposes, which will magnify the potential for loss on amounts invested in the Fund. Please see the prospectus for details of these and other risks. The Fund is distributed by Blackstone Securities Partners L.P. BMACX is a newly formed investment company with no operating or performance history that shareholders can use to evaluate the Fund. View source version on Contacts Thomas (646) 482-6088
Yahoo
24-04-2025
- Business
- Yahoo
EQT to acquire Olympus Energy assets for $1.8bn, boostin Marcellus shale presence
EQT has signed an agreement to acquire the upstream and midstream assets of Olympus Energy for a total consideration of $1.8bn. The acquisition, which includes approximately 90,000 net acres and a production rate of 500 million cubic feet per day (mcf/d), is expected to significantly enhance EQT's footprint in south-west Pennsylvania. The payment for the acquisition will be made through a combination of approximately 26 million shares of EQT common stock, valued at $1.3bn, and $500m in cash. EQT plans to fund the cash portion with available cash and borrowings under its revolving credit facility. The assets involved in the transaction are expected to generate an average annual adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) of approximately $530m and unlevered free cash flow of around $270m over the next three years, based on current strip pricing. This implies an attractive adjusted EBITDA multiple of approximately 3.4 times and an unlevered free cash flow yield of around 15%. Olympus Energy's assets include more than ten years of high-quality Marcellus inventory and an additional seven years of potential from the Utica formation. The company's integrated platform and inventory are comparable to EQT's industry-leading cost structure in terms of unlevered free cash flow breakeven price. The transaction is due to be completed early in the third quarter of 2025, pending regulatory approvals and customary closing conditions. EQT's Board of Directors has unanimously approved the deal. Moelis & Company acted as the lead financial advisor, while Greenhill, a Mizuho affiliate, provided financial advice to EQT. Legal counsel for EQT is provided by Vinson & Elkins. Jefferies served as financial advisor to Olympus Energy, with Kirkland & Ellis as legal counsel. In a related development, EQT announced a joint venture (JV) with Blackstone Credit & Insurance (BXCI) in November last year. The JV encompasses EQT's interests in critical infrastructure assets including the Mountain Valley Pipeline, transmission and storage facilities, and the Hammerhead Pipeline. BXCI will invest $3.5bn in cash for a non-controlling equity stake in the JV, which is valued at $8.8bn. "EQT to acquire Olympus Energy assets for $1.8bn, boostin Marcellus shale presence" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
