Blackstone Group is looking to raise $5 billion for its second Asian fund.
Blackstone is seeing huge potential in Asia and really wants to invest heavily and faster than ever before. Around 66% of their first fund $2.3 billion has been invested.
Blackstone see’s great growth potential in China and India and really wants to get a foot in those markets before they mature.
Blackstone has acquired Ancestry for $4.7 billion from a group of private equity investors (Singapore’s sovereign wealth fund GIC, Permira, Silver Lake, Spectrum Equity)
Within eight years those private equity investors purchased Ancestry for $1.3 billion and have now sold for $4.7 billion. Not a bad return!
Ancestry currently has $1 billion in annual revenue from a base of more than 3 million customers who pay for its various family history services.