Blackstone To Acquire ESG Services Provider Sphera From Genstar Capital For $1.4B

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  • Blackstone Group Inc BX managed private equity funds inked an agreement to acquire Sphera from Genstar Capital for $1.4 billion. 
  • Sphera, a provider of Environmental, Social, and Governance (ESG) software, data, and consulting services, has more than 3,000 customers in more than 100 countries. 
  • The investment would be made via Blackstone's flagship private equity vehicle. 
  • Sphera's experts work with global organizations to help them surface, manage, and mitigate ESG risk through SaaS software, proprietary data, and consulting services. 
  • Blackstone held $5.4 billion in cash and equivalents as of March 31, 2021. 
  • Price action: BX shares traded lower by 0.62% at $97.04 on the last check Tuesday.
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