US private equity firm Blackstone will open a new office in Frankfurt, Germany.
The company has leased 1,300 square metres of office space in Commerz Real’s Omniturm in Frankfurt’s financial district.
The new office will host professionals across Blackstone’s private equity, real estate, and credit businesses, in addition to providing a hub for Blackstone’s private wealth solutions business, which serves investment professionals and individual investors across Europe.
Juergen Pinker, Senior Managing Director, will lead on Private Equity, with Jurij Puth, Senior Managing Director, leading on Credit.
Blackstone has been an active and significant investor in Germany for more than two decades, with currently more than 7,000 people employed by its portfolio companies in the country. To date, the firm has been involved in transactions worth more than €17 billion in Germany.
Jon Gray, President and COO of Blackstone, said: “We are very excited to be opening a new office in Frankfurt, and to be expanding our presence in Germany. Germany is an economic powerhouse, a great country to do business in and we look forward to investing here for a long time to come.”
Current Blackstone investments in Germany include Leica and Schenck Process. In the past, the firm invested in Scout24, Gerresheimer, as well as Meerwind, the first privately financed offshore wind farm in Germany.
The firm also has significant investments in German real estate, particularly logistics assets and commercial real estate where the firm’s current investments total nearly €7 billion of equity. Notable examples include the Messeturm in Frankfurt as well as the Sumatrakontor in Hamburg’s HafenCity. Through its credit business, Blackstone has provided financing of €5.6 billion in the DACH region, including for TK Elevator, formerly part of ThyssenKrupp.
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