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.
