Blackstone moves to Vertigo Polaris building in Cloche d’Or

Blackstone, the world’s largest alternative asset manager has moved to a larger office in Luxembourg’s Vertigo Polaris Building, where it now accommodates more than 50 employees and manages close to €67.5bn in assets, it said on Wednesday. Blackstone, one of the world’s leading private asset investment firms, has relocated to a new flagship office in the Vertigo Polaris Building, situated in the Cloche d’Or district. The official inauguration was attended by Xavier BettelXavier Bettel (DP), prime minister, and Michael Chae, chief financial officer of Blackstone, the company said on Wednesday 27 September 2023. According to the firm, the move signalled its reinforced focus on Luxembourg, where it has been operating for two decades. In 2017, Blackstone established Blackstone Europe Fund Management (BEFM), regulated by Luxembourg’s Financial Sector Supervisory Commission (CSSF). BEFM was set up with the objective of simplifying access for European investors to Blackstone’s range of funds. According to Blackstone, BEFM currently manages nearly €67.5bn in assets across 81 investment structures as of the second quarter of 2023. As of 2023, BEFM ranks as the second-largest in-house alternative investment fund manager (AIFM) and fifth largest AIFM overall in Luxembourg, specialising in areas such as valuation, risk management, distribution, and [...]

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