Blackstone Group said Oct. 16 that it closed its buy of Harvest Fund Advisors LLC. In August, Blackstone said it would buy Harvest, an energy money management firm. Financial terms weren’t announced.
PRESS RELEASE
New York, October 16, 2017—Blackstone (NYSE:BX) today announced that it has closed on its previously announced acquisition of Harvest Fund Advisors LLC (“Harvest”), an investment management firm with over $10 billion in assets under management. Terms of the acquisition were not disclosed.
Founded in 2005, Harvest primarily invests capital raised from institutional investors in separately managed accounts and pooled vehicles, investing in public master limited partnerships (MLPs) holding U.S. midstream energy assets.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $370 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
Source: https://www.pehub.com/2017/10/blackstone-closes-harvest-fund-advisors-buy/
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