Simpson Thacher Helms Close of $5.6 Billion Blackstone GP Stakes

Simpson Thacher & Bartlett advised Blackstone on the final close of its second fund, with $5.6 billion, aimed at investing in other private equity firms.

The second Blackstone Strategic Capital Holdings fund, GP Stakes, specializes in making “value-added, long-term, minority investments in the management companies of leading private equity firms,” according to a statement.

This year the fund has bought minority stakes in Great Hill Partners, GTCR, and Sentinel Capital Partners, the statement said.

“We have strong momentum in the GP Stakes market as we seek to invest with the most successful GPs across the private-market landscape,” said Mike Nash, ...