American Industrial Partners (AIP) announced a strategic minority investment from funds managed by Blackstone GP Stakes, specializing in value-added, long-term minority investments in industry-leading private equity firms.
The deal proceeds will facilitate the retirement of an AIP partner and will be fully reinvested into AIP funds.
In 2023, AIP closed its eighth fund, American Industrial Partners Capital Fund VIII, L.P. at $5 billion in limited partner commitments. And the firm currently has approximately $17 billion in assets under management.
The terms of the deal were not disclosed. Evercore served as a financial advisor, and Kirkland & Ellis and Simpson Thacher & Bartlett served as legal counsel to AIP. And Fried Frank served as legal counsel to Blackstone.
KEY QUOTES:
“With over a trillion dollars of assets under management, Blackstone is a major investor in many businesses that are customers, suppliers, and innovators within the marketplace addressed by AIP’s industrial investments. We look forward to our partnership with Blackstone, as we believe they will bring revenue growth and cost reduction opportunities to many of our existing portfolio companies.”
– Kim Marvin, Partner at AIP
“We proudly partner with many of the world’s top performing private equity managers, and our partnership with AIP aligns with that investment focus.”
– Ward Young, Chief Investment Officer for GP Stakes at Blackstone
“AIP’s team of engineers, operating executives, and financial professionals, coupled with its decades-long track record of building dynamic industrial businesses, have distinguished the firm as a leading investor within the industrials sector. We look forward to supporting AIP through this partnership.”
– Josh Blaine, Head of GP Stakes at Blackstone
