New York – December 5, 2016 – BTIG, LLC announced today that it has signed a definitive agreement to receive a strategic investment from funds managed by Blackstone Tactical Opportunities. BTIG plans to leverage this investment to further expand its capabilities and accelerate the firm’s global growth. Post investment, BTIG and its affiliates in Europe, Asia and Australia will continue to operate as fully independent entities. Financial terms of the private transaction were not disclosed.
“Over the last 10 years BTIG has been one of the fastest growing institutional brokerage in the US. Partnering with Blackstone Tactical Opportunities will further enhance our abilities and allow us to accelerate growth initiatives,” said Scott Kovalik, Co-Founder and Chief Executive Officer of BTIG. “We view their investment as a vote of confidence in our growth prospects and we look forward to working together to further grow our business.”
BTIG has expertise across institutional trading, investment banking, equity research and related brokerage services. With industry experts, the firm delivers solutions for both institutional and corporate clients. For more than a decade, its entrepreneurial team has applied their experience, insight and global relationships to offer clients an advantage in today’s complex market environment.
“We are excited to welcome the Blackstone Tactical Opportunities team as a valuable strategic partner, dedicated to our vision for the firm’s continued growth,” said Steven Starker, Co-Founder of BTIG. “Strategically aligning with another industry leader will help to strengthen our brand, and amplify our ability to identify valuable client opportunities.”
David Blitzer, Senior Managing Director at Blackstone said, “We look forward to working with the experienced team at BTIG to help grow the business and build upon their already strong franchise.”
BTIG is a global financial services firm specializing in institutional trading, investment banking, research and related brokerage services. With an extensive global footprint and more than 500 employees, BTIG, LLC and its affiliates operate out of 14 cities in North America, Europe, Asia and Australia. BTIG offers execution, expertise and insights for equities, equity derivatives, ETFs, fixed income (futures, commodities, foreign exchange, interest rates, credit, and convertible and preferred securities). The firm’s core capabilities include global sales, portfolio, electronic and outsource trading, transition management, investment banking, prime brokerage, capital introduction, corporate access, research and strategy, commission management and more. Disclaimer: https://www.btig.com/Disclaimer.aspx
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $360 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at china.blackstone.com. Follow Blackstone on Twitter @Blackstone.