Growth equity firm FTV Capital has sold a minority stake to Blackstone’s GP stakes business, a spokesman for FTV Capital said in an email.
Blackstone’s GP stakes business specializes in value-added, long-term partnerships with private market alternatives managers.
Terms of the deal were not disclosed in a joint news release from FTV Capital and Blackstone.
Brad Bernstein, managing partner at FTV Capital, said in the news release: “The Blackstone investment will enable us to invest in our firm and successfully continue our growth journey, as well as increase commitments to our funds, strengthening alignment with limited partners.”