Blackstone, one of the largest alternative asset manager, announced that it will open a new office in Frankfurt, Germany. The new flagship location will occupy 1,300 square meters in the OMNITURM in Frankfurt’s financial district and serve as a hub for Blackstone in Germany.
What is the purpose of the new office in Frankfurt?
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 MD, will lead on Private Equity, with Jurij Puth, Senior MD, leading on Credit. Blackstone has been an active and significant investor in Germany for more than two decades, with 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 €17bn in Germany.
What does the expansion mean for Blackstone?
The opening of the new office in Frankfurt highlights Blackstone’s conviction in Germany, and its plan to build on its success and expand its activity in the German market going forward.
Jon Gray, President and COO of Blackstone, said: “We are excited to open a new office in Frankfurt, and to expand our presence in Germany. Germany is an economic powerhouse, a great country for business in and we look forward to investing here for a long time to come.”
Blackstone investments in Germany include Leica and Schenck Process. The firm invested in Scout24, Gerresheimer, and Meerwind, the first privately financed offshore wind farm in Germany. It also has significant investments in 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.