Blackstone Inc. is reportedly in advanced negotiations to acquire a minority stake in growth-equity investment firm FTV Capital. Although a deal has not been finalized and talks could potentially collapse, FTV Capital, with offices in San Francisco and New York, recently raised $2.3 billion for its largest fund yet. The firm, led by managing partner Brad Bernstein, focuses on equity investments in enterprise technology, financial services, and payments.
Alternative asset managers have been using passive stake sales to generate liquidity, with some founders reinvesting in firms. In recent examples, Dyal Capital acquired a minority stake in Lead Edge Capital, Bonaccord Capital Partners bought a stake in VMG Partners, and Hunter Point Capital announced its intention to buy a stake in L Catterton, which also makes growth-equity bets.
