Steve Schwarzman, CEO of Blackstone (NYSE:BX) Inc, said his firm is considering a number of real estate opportunities across Europe as central banks become less aggressive with interest rate hikes, allowing transaction volumes to begin to recover.
In a Bloomberg TV interview on the sidelines of the Global Investment Summit in London, Schwarzman explained that “this type of business is not at a complete standstill, although we’ve had a tough year”. He added that “these kinds of deals are starting to revitalise again”.
Blackstone partnered with investors, including Permira, in early November to buy Adevinta ASA in a deal that valued the European online classifieds company at around €14 billion, including debt, in one of the biggest acquisitions of the year.
As the turmoil of the Covid era gave way to rising inflation, central banks around the world raised interest rates. That reduced transaction volumes, which is bad news for private equity investors, who are known as limited partners, reports Fortune.
The investment summit in the UK features top executives and bankers, including Jamie Dimon of JPMorgan Chase & Co (NYSE:JPM).
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