Funds managed by Blackstone’s GP Stakes business will acquire a minority ownership interest in GTCR. Blackstone’s GP Stakes business specializes in value-added, long-term partnerships with leading private-market alternative asset management firms.
On behalf of the managing directors of GTCR, Collin Roche and Dean Mihas commented, “We are thrilled to have this opportunity to work with Blackstone as a passive minority investor in our firm. Blackstone is an exceptional institution and we expect they will bring resources and perspective that will help us as we continue to serve our limited partners, build our franchise and invest our funds over the long term. In particular, we believe that this investment partnership will further enhance our ability to serve the interests of our limited partners, our management partners and our investment team and staff. Our top priority at GTCR has always been to serve our limited partners by working to generate strong and consistent investment returns through the disciplined application of our investment strategy. As part of GTCR’s Leaders StrategyTM, we seek to identify and partner with talented, accomplished executives with whom we work collaboratively to build and grow our portfolio companies. Finally, we have a talented group of investment professionals and staff, and we are dedicated to providing our team with the most opportunity for professional growth and impact, while working in a collaborative and inclusive environment. We appreciate the support from Blackstone as we maintain our focus on these key constituents while growing the firm’s opportunity set.”
Mustafa Siddiqui, head of Blackstone’s GP Stakes business said, “GTCR has developed one of the most respected investment franchises in the private equity industry. The firm has a world-class group of leaders and investment professionals, a differentiated investment approach and a long history of success. I have been personally gratified to develop rapport with the GTCR team, and we look forward to our long-term partnership.”
Ward Young, GP Stakes Managing Director added, “Our top priority is to partner with the most successful general partners in private equity. We are especially impressed with GTCR’s strategy of investing in transformative growth behind talented executives. We are pleased to support GTCR’s ongoing success.”
GTCR is a growth-oriented private equity firm with a management-driven approach and business-building investment orientation. In 2020, GTCR closed on its thirteenth equity fund, GTCR Fund XIII, with $7.5 billion of limited partner capital commitments. The partnership will provide GTCR’s portfolio companies with access to Blackstone’s group purchasing program.
Evercore served as financial advisor to GTCR. Kirkland & Ellis served as legal counsel to GTCR and Fried Frank served as legal counsel to Blackstone.