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Tag: Blackstone

  • Blackstone Opens Second India Base in Bengaluru

    Blackstone Opens Second India Base in Bengaluru

    Blackstone opened a Global Capability Center in Bengaluru on Tuesday, establishing its second location in India to back operations across its worldwide funds.

    The alternative asset manager already ranks as India’s largest owner of office, retail, and logistics real estate, backed by a footprint that helped launch five of the country’s six listed real estate investment trusts.

    Bringing together in-house staff and professional services partnerships across corporate functions, the new facility will support the firm’s international network alongside its domestic businesses.

    Operations Shift to Southern Tech Hub

    Susan Yung, a senior managing director in Blackstone Credit & Insurance’s investment operations division, will direct the Bengaluru center. Yung spent more than 25 years working in the financial sector and earlier lived in Bengaluru during a stint with Goldman Sachs.

    Front-office dealmakers will stay put. The company’s core investment teams remain headquartered in Mumbai, where its Indian private equity, infrastructure, and real estate heads direct capital deployment.

    The setup occupies space at Prestige Lakeshore Drive. Blackstone Real Estate and developer Prestige Group jointly own the business park, which already leases commercial square footage to multinational software and banking firms.

    Landlord Footprint and Public Listings

    Establishing operational centers inside proprietary office developments mirrors what big institutional investors across Asia have done to secure captive tenancy while trimming overseas back-office payrolls. Rather than relying solely on external business process outsourcers, large buyout houses increasingly run their own execution platforms to manage fund accounting, data compliance, and risk analytics in-house.

    For commercial real estate operators in Bengaluru, the move highlights persistent institutional demand for premium tech parks even as broader office leasing volumes normalize across major Indian metros. The direct exposure also gives Blackstone another vantage point on tenant demand, wage trends, and physical occupancy inside its own business parks.

    Track Record in Indian Capital Markets

    Over the past twenty years, Blackstone expanded from fundamental private equity buyouts into credit, infrastructure, logistics warehouses, and shopping malls across India. The asset manager took 14 Indian portfolio companies public during that run, including the debut of the domestic market’s first listed REIT.

    “By investing in exceptional talent, technology-enabled capabilities, and a world-class workplace, we are strengthening our ability to support the firm’s operations globally. This expansion reaffirms our long-term commitment to India, where we have become one of the most prominent global investors over the past two decades.”

    The firm now manages exposure across multiple vehicle types in the domestic market, with growing operations in private credit and insurance assets alongside its core property platforms.

    What to Watch Next

    Attention turns to hiring velocity at Prestige Lakeshore Drive and the potential transfer of further investment-support functions from Europe and North America into southern India. Observers will also track Blackstone’s upcoming filings for additional Indian REIT listings and asset roll-ups across its retail and industrial warehousing portfolios.

  • Blackstone-Backed AirTrunk Seeks S$2 Billion Loan for Singapore Reit IPO

    Blackstone-Backed AirTrunk Seeks S$2 Billion Loan for Singapore Reit IPO

    Blackstone-backed data centre operator AirTrunk is in talks with commercial banks in September 2026 to raise approximately S$2 billion in debt to fund the Singapore listing of an asset-backed real estate investment trust.

    The package spans multiple debt tranches ranging from three to seven years, structured in Singapore dollars and Japanese yen to match the underlying portfolio.

    Refinancing Assets and Securing Liquidity

    Proceeds from the loan will go directly to the planned real estate investment trust. The vehicle will use the funds to purchase operational hyperscale assets from AirTrunk and refinance existing credit facilities across its regional footprint. Pricing and final terms remain under negotiation with participating lenders.

    Regional lenders have extended nearly US$29 billion in data centre debt across Asia since the beginning of 2025. As balance sheet limits tighten at major regional institutions, banks have grown stricter on underwriting criteria, favoring sponsors with institutional backing over smaller regional competitors.

    Asset-Backed Structures and Bank Limits

    Carving operational facilities into a publicly traded trust lets AirTrunk release balance sheet capacity while retaining operational control. The transaction also offers regional banks a route to distribute their credit exposure rather than holding long-term project loans to maturity on their books.

    Sponsors across Asia face higher power costs and tighter underwriting requirements for server real estate. Moving cash-generating properties into a yield-focused vehicle provides an alternative pool of public capital, insulating the development pipeline from tightening private credit markets.

    Building Out the Listing Roadmap

    The borrowing plan follows an aggressive regional expansion by the operator. AirTrunk recently completed a US$2.3 billion green loan to fund its hyperscale campus development in Johor, Malaysia, expanding its footprint across Southeast Asia.

    Preparations for the public offering have advanced over recent months, with the company preparing confidential filings for the trust. The planned Singapore listing aims to raise roughly US$1.5 billion in equity once terms and regulatory approvals are settled.

  • Blackstone makes initial investment in Indian fashion sector

    Blackstone makes initial investment in Indian fashion sector

    International private equity firm Blackstone has invested roughly US$244 million in debentures in Future Lifestyle Fashions holding company Ryka Commercial Ventures.

    The deal is accompanied by Blackstone’s acquisition of a 6-per-cent shareholding in Future Lifestyle. The firm is now Ryka’s sole financial partner.

    “This is our first investment in this sector,” said Blackstone’s head of tactical opportunities, Asia Kishore Moorjani in a DealStreetAsia report. “We look forward to being a value-added investor as FLFL and the Future Group continue to cater to the fashion needs of aspiring India.”

    The funds have been used to resolve all Ryka’s existing financial obligations.

    “Blackstone will support us in the continued growth of our fashion business, bringing global perspectives that will help us take FLFL to the next level,” said Future Group CEO Kishore Biyani.

  • Taubman Sells Shares of Three Asian Shopping Centers

    Taubman Sells Shares of Three Asian Shopping Centers

    US retail property specialist Taubman Centers is to sell a 50 per cent stake in three of its shopping centres in China and Korea to funds managed by private equity company Blackstone Group. The deal, worth US$480-million, is expected to be settled later this year and will net Taubman about $315 million according to financial news reports. The company will maintain a share of up to 25 per cent in each property.

    Post settlement, Taubman will be contracted for the ongoing management of the centres.

    The centres are South Korea’s Starfield Hanam, and China’s CityOn Xi’an and CityOn Zhengzhou.

    Taubman manages a 26 regional, super-regional and outlet shopping centres in the US and Asia, and has another property under development. CEO Robert S Taubman said the sale was part of a strategy of recycling capital for growth.

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  • Blackstone and Sky Internasional CEO Aldi Sky Wungkana Reported for Tax Fraud and Scam

    Blackstone and Sky Internasional CEO Aldi Sky Wungkana Reported for Tax Fraud and Scam

    Blackstone Indonesia and Sky Internasional a self-claimed digital strategic marketing agency in Indonesia with premium services in interactive communications, digital strategy, brand identity, social media and online advertising are to be considered as digital fraud masterminds solely to enrich themselves with personal benefits and to fund their luxury lifestyles. 

    The last few days we already reported about this gentlemen. A self-esteemed CEO of both companies has an explanation for everything, but not for all above topics we’re writing up ; also not even why the money of the company is wired without tax straight into an employees bank account.

    He is now searched by the police for a variety of criminal cases such as digital fraud, tax evasion, misuse of company assets as well as contract fraud. This gentlemen has gathered a long list of criminal activities the last few years. Many companies have lost money which he spend in expensive cars, diamond rings and acting as a superstars in the many clubs Jakarta hosts.

    Aldi Sky Wungkana, and Felix Valentino are using a variety of business cards with different phone numbers ; after another criminal event they switch the phone of and start using other numbers ; they use fake social media profiles and connect with different social profiles. They are leading a double life.

    This has come to an end now Retail News has listed all cases, connected all impacted companies and reported this with the police.

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  • Blackstone and Sky Internasional Be Named as Masterminds of a Big Marketing Scam in Indonesia

    Blackstone Indonesia and Sky Internasional a self-claimed digital strategic marketing agency in Indonesia with premium services in interactive communications, digital strategy, brand identity, social media and online advertising are to be considered as digital fraud masterminds and to be the leaders of an organization with only one goal, to cheat clients solely to enrich themselves with personal benefits and to fund their luxury lifestyles. 

    Retail News received a lot of complaints from several Blackstone Indonesia customers, basically complaining about the same kind of practices. Retail News took the lead in this investigation and took a deeper dive into this matter. After seeing all proof we are committed to send out a warning to all startups and companies in Indonesia. Our advise is not to engage in any partnership with the two mentioned companies. It’s very likely you will lose money, time and efforts in the spiderweb these companies have build out.

    The “modus-operandi” is usually the same ; they issue invoices without tax and ask clients to wire money to a variety of bank accounts. All invoices appear to start with #1 for each clients and one of the bank accounts always coming back is from Aldino Ozky, Bank Central Asia with bank (BCA), Account No. 920000223. They use this bank account to wire company money to and to avoid paying taxes, neither issuing any tax receipts.

    After a company wires the first retainer, Blackstone shows you their digital dashboard which has all sorts of numbers on page views and impressions and gorgeous graphs. It looks like you’ll have access to loads of information about your marketing. Which in theory is a good idea… The only problem with every one of these fancy dashboards we’ve seen is they provide all sorts of information which is of no use to the business of client and they sell 0. While they charge you for a variety of things, simply to run out your budgets.

    Aldi Sky Wungkana, self-esteemed CEO of both companies has an explanation for everything, but not for all above topics we’re writing up ; also not even why the money of the company is wired without tax straight into an employees bank account. Big talker, 0 results.

    Felix Valentino is also a member of their league, he never picks up the phone when you try to call him ; uses fake whatsapp profiles and he’s to be considered as the the email writer to inform customers that their money is litterally gone. Done and dusted, simply call him the “excuse guy”.

    A random overview of what else they are practicing:

    # PPC fraud with high bounce rates and non-targeted traffic.

    # sending bot traffic to your website and charging high CPCs for this ;

    # buying FB engagement on non-legal websites and sending it over to your social media channels basically ruining everything you have build up ;

    # 0 to none connection with big newspapers, but charging the same rates to publish content on shitty websites claiming they offer premium PR services

    In regards to the proof of all statements made above, readers, the police and/or any other governemental institution can contact Retail News to received all proof. We have bundled all complaints from startups and customers. None of the phone numbers we called were available for any comments. Whatsapp groups dissolved and no response on email.

    A police case is about to be filed as well as a court case to stop these gentlemen from doing what they are doing. Companies are warned! The tax authorities received complaints as well and confirmed they have started an investigation.

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  • Blackstone exits German outdoor clothing brand Jack Wolfskin

    Blackstone exits German outdoor clothing brand Jack Wolfskin

    Blackstone is handing over control of German outdoor clothing brand Jack Wolfskin to hedge funds in exchange for debt after the business failed to attract bidders.

    The largest of the shareholders will now be Bain Capital Credit, HIG Bayside Capital and CQS, who will jointly own more than 50 per cent of Jack Wolfskin. They will also inject further financing of US$29 million to boost its liquidity.

    The debt for equity swap will leave Jack Wolfskin with $110 million in debt, less than one third the level pre-sale. Blackstone bought the brand in 2011, reportedly paying nearly $1 billion and with ambitions to take it global

    Jack Wolfskin CEO Melody Harris-Jensbach said in a statement the move completes the financial restructuring and leaves the company in a stronger shape to pursue expansion.

    “Added to this is an encouraging trading scenario. Following a positive business performance in line with our budgets, we are starting to see growth again in the German-speaking countries, which are traditionally our core market, as well in our focus markets.

    “This trend is gathering additional momentum due to the high level of orders for our 2017 autumn and winter collection and positive feedback from our customers on our new product developments.”

    Bain Capital Credit’s Gauthier Reymondier described Jack Wolfskin as “a very strong outdoor brand”, number one in German-speaking countries and number three among the international outdoor brands in China.

    “We are committed to supporting Jack Wolfskin and now that the restructuring has been completed, we are well positioned to develop the company further in the coming years.”

    While the general international retail environment has proved challenging for Jack Wolfskin, it has also been struggling with the transition to taking direct control of its China operations.

    In 2015, the brand had 700 outlets in China. In Hong Kong, its products are impossible to buy, even though the company’s website lists about a dozen resellers, none of whom still stock it.

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  • Blackstone targets Japanese retail through privatisation of Croesus

    Blackstone targets Japanese retail through privatisation of Croesus

    Blackstone has offered to buy a listed owner of retail assets in Asia-Pacific, valuing the Singapore-based Croesus Retail Trust at SGD901m (€572m).

    Blackstone has agreed to pay SGD1.17 per unit for all of the company’s issued units and intends to privatise it through a scheme of arrangement to be approved by unitholders.

    In 2013, Croesus Trust Retail became the first Asia-Pacific retail business trust with assets in Japan to be floated on the Singapore Stock Exchange (SGX).

    The trust owns a diversified portfolio located predominantly in Japan and has strategic relationships with large Japanese groups Marubeni and Daiwa House.

    Market sources told IPE Real Estate that several Singapore real estate investment trusts, including Croesus, have been trading at discounts to their net asset value, and have consequently attracted interest from investors keen to acquire sizeable portfolios in Asia-Pacific.

    The offer, announced to the SGX on Wednesday, confirmed market speculation of a potential takeover of the trust. Since speculation surfaced in April this year, the Croesus unit price has risen 25%.

    Blackstone will pay unitholders of Croesus a distribution income of up to SDG31.1m, subject to the deal closing by the end of October.

    A simple majority of more than 50% of unitholders, representing at least 75% in value of the units held by unitholders present and voting at the scheme meeting, is needed to approve the scheme.

    In a joint statement to the Singapore Stock Exchange, Croesus and Blackstone said the scheme represents an opportunity for unitholders to realise their investment at an attractive valuation.

    It said unitholders will receive significant premiums to the historical trading price of the units, the net asset value per unit and the net tangible asset per unit.

    CRT and Blackstone said the offer carries a premium of about 38% to the 12-month volume-weighted average price per unit, and that the offer price exceeds the highest closing price of the units since the initial public offering in May 2013.

    The trust has almost 770m units on issue, and, at the end of March 2017 the net asset value of the units was SGD0.95.

    At the end of March, the company reported an occupancy rate of 97.7% and a weighted average lease expiry of 6.5 years.

    Croesus has doubled its portfolio in Japan to 11 retail assets from just four when it listed in 2013. Its market cap has doubled to SGD759.9m since then.

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