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Blackstone permanent capital vehicle takes minority stake in Rockpoint Group

Blackstone Group LP's Strategic Capital Holdings Fund acquired a passive, minority equity stake in Rockpoint Group LLC, a global real estate investment management firm.

Terms of the transaction were not disclosed.

The fund is a permanent capital vehicle that specializes in acquiring long-term interests in alternative asset managers. It is managed by Blackstone Alternative Asset Management LP.

Evercore served as financial adviser to Rockpoint. Kirkland & Ellis LLP served as legal counsel to Blackstone and Simpson Thacher served as Rockpoint's legal adviser.