Blackstone Acquires Major Stake in European Fund

Blackstone Expands European Presence with Major Acquisition

Blackstone, a global private equity giant, has made a significant move to strengthen its foothold in the European logistics sector by acquiring an 80% stake in a warehouse portfolio managed by Burstone, a Johannesburg-listed company. This portfolio, valued at €1.1 billion (approximately $1.2 billion), spans several key European countries, including Germany, France, and the Netherlands. This acquisition is indicative of Blackstone's strategic focus on capitalizing on the surge in e-commerce, which has led to increased demand for warehouse space.