Bloomberg Law
Aug. 5, 2020, 1:31 PM

Blackstone Reaches $4.7 Billion Deal to Buy (1)

Heather Perlberg
Heather Perlberg
Bloomberg News

Blackstone Group Inc. acquired a majority stake in Inc., the business known for family history research and DNA testing.

The deal is valued at $4.7 billion, Blackstone said in a statement Wednesday. It’s the first acquisition by Blackstone’s largest ever private equity fund. Silver Lake and Singaporean sovereign-wealth fund GIC Pte have been the majority owners since 2016. After the deal closes, Blackstone will own about 75% and GIC will still hold about 25% of, said people familiar with the matter, who asked not to be identified because the information is private.

New York-based Blackstone is flush ...

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