US private equity firm Blackstone is reportedly in advanced negotiations to acquire a €3 bn European portfolio in an off-market deal with Norwegian fund manager Obligo Investment Management.
US private equity firm Blackstone is reportedly in advanced negotiations to acquire a €3 bn European portfolio in an off-market deal with Norwegian fund manager Obligo Investment Management.
According to a news report by Estates Gazette, the portfolio has a broad geographical spread with a concentration of assets in Norway, Sweden and Germany as well as elements in Denmark, France, Latvia and the UK.
Around a third of the portfolio is made up of logistics assets, which Blackstone plans to contribute to its Logicor platform, in preparation for a planned exit next year through either a sale or initial public offering.
The deal is believed to be the group's first major push into Scandinavia.
Blackstone declined to comment. Obligo was not directly available for comment.
