Stock Track | Blackstone Group LP Soars 5.04% on Surging Private Assets Demand and Key Investments

Stock Track04:24

Blackstone Group LP (BX) shares rose 5.04% in the night session on Thursday, driven by growing investor interest in private assets and the company's strategic investments in energy and wealth management sectors.

The world's largest alternative asset manager announced its acquisition of a significant stake in Lancium, an energy technology firm based in Houston, for more than $500 million. This investment positions Blackstone to capitalize on the increasing demand for renewable energy solutions as Lancium plans to build five facilities in Texas leveraging wind and solar power.

Additionally, Blackstone is deepening its foothold in the wealth management industry by partnering with the Private Wealth Management Association (PWMA) in Hong Kong. The company will launch its Blackstone University certification program in the city, aiming to equip wealth managers with knowledge and resources to cater to individual investors' growing appetite for private market investments.

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