Private equity firm Blackstone Inc. is reportedly in advanced talks to invest in growth-investment firm FTV Capital in return for a minority stake.
The deal is yet to be finalized. Bloomberg reckons that Blackstone must be eyeing the passive stake to generate liquidity.
- Last March, FTV secured $2.3B in commitments towards its seventh fund.
- FTV intends to write checks between $30M to $200M from the seventh fund.
- FTV intends to back enterprise technology, financial services, and payments startups with the seventh fund
- It had already backed ID.me, LoanPro, and ETF Securities.
- Other private equity firms have been increasing their commitments to other alternative asset managers to boost their liquidity in the past year.
- Apollo Global Management acquired a ~5% stake in New York-based alternative asset manager Diameter in October 2022.
- Last year, Blue Owl Capital acquired a minority stake in Lead Edge Capital.
- Earlier this month, Hunter Point Capital announced it would buy a stake in L Catterton.
