A Blackstone real estate fund is buying a 10 percent stake in Logicor Ltd (IPO-LOG.L) just months after selling the European warehouse firm to a Chinese sovereign wealth fund, a source familiar with the matter said on Tuesday.
Blackstone Group LP (BX.N) sold Logicor to China Investment Corp [CIC.UL] in June for 12.25 billion euros ($14.4 billion).
China Investment Corp has also hired the U.S. private equity firm to manage Logicor’s warehouses and logistic properties portfolio, the Financial Times reported, citing people briefed on the matter.
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