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Blackstone takes 80% of data center JV; BlackRock-backed Influence Media tunes into Enrique Iglesias

Happy Friday, Hubsters.

Rafael Canton filling in for Obey Martin Manayiti on this Friday edition of the Wire.

To cap the week off, we are starting with a look at Blackstone establishing a data center joint venture with Digital Realty, a sector that is booming thanks to the rise of generative AI and cloud computing.

Next, we will saunter through some interesting recent deals including BlackRock-backed Influence Media investing in popstar Enrique Iglesias’ catalog of music.

Finally, we head to the sports sector to dive into Arctos Sports Partners’ investment in French soccer club Paris Saint-Germain and the firm’s strategy of taking minority stakes in professional sports teams.

Data centers draw PE interest

Blackstone announced that its affiliated funds led by Infrastructure, real estate and tactical opportunities have agreed to establish a joint venture with Austin, Texas-based Digital Realty.

Upgrade to the premium version of the Wire to read more.

Influence Media finds rhythm

BlackRock- and Warner Music-backed Influence Media Partners announced that it acquired the music catalog of Grammy Award-winning recording artist Enrique Iglesias. Iglesias has sold more than 180 million albums worldwide and released 11 studio albums and three greatest hits compilations.

Subscribers to the premium version of the Wire may read more about this news.

Minority stakes

Dallas-headquartered private equity firm Arctos Partners announced that it took a stake of up to 12.5 percent in French football club Paris Saint-Germain. The deal values PSG at $4.32 billion.

Upgrade to the premium version of the Wire to read more about this deal.

Thoma Bravo-backed Nearmap acquires Betterview

Location intelligence and aerial imagery solutions provider Nearmap announced that it acquired California-based property intelligence and risk management platform Betterview.

Subscribers to the premium version of the Wire may read more about this deal.

That’s it from me today. If you have any thoughts, questions, want to chat, please email me at rafael.c@pei.group. MK Flynnwill be back with the Wire on Monday. Have a nice weekend.

Cheers,

Rafael

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Also of note (may require subscriptions)

In announcing it would acquire a piece of Performance Equity Management, Sagard, the fast-growing alternatives arm of Power Corp, struck a deal to create first-time strategic capabilities – including in secondaries. (Buyouts)

As more investors conduct climate scenario analyses, the severity of physical risks on investment portfolios is becoming clearer. (New Private Markets)

LPs keep one eye on the horizon amid headwinds: Investors remain bullish on the long-term outlook for private versus public markets investing in the face of high interest rates and inflationary pressures, according to Private Equity International’s LP Perspectives 2024 Study.

In less than a week, private real estate has seen not just one but two of the largest fundraises of the year take place in the secondaries corner of the market. Amid a prolonged and industry-wide fundraising slowdown, these final closes are large not just for the strategy, but also for real estate as a whole. (Private Equity Real Estate)

Congruent Ventures, a San Francisco-based climate and sustainability venture firm, has closed its third flagship fund at $275 million, beating its $200 million target. (Venture Capital Journal)