Blackstone Raises $1.3 Billion in India Exit

Blackstone offered to sell up to 25% of India's Knowledge Realty Trust in an upsized transaction that raised about $1.3 billion. The transaction marks the largest share sale by a private shareholder in India via this method. Institutional investors participated on August 31, followed by retail investors on September 1.

The sale set a floor price of 108 rupees per unit. That level represented a 4.7% discount to the prior close and a 13% discount to net asset value. Knowledge Realty Trust owns 29 properties across six Indian cities and has gained roughly 10% since its August 2025 listing.

If the oversubscription option is fully exercised, Blackstone will see its stake fall from 46.5% to about 21.5%. Local partner Sattva Group becomes the trust's largest shareholder with a 32% stake. The partial exit frees up capital for Blackstone to redeploy into new opportunities while keeping meaningful exposure to the trust's portfolio.

Separately, Insider Monkey data showed 76 hedge funds held Blackstone shares worth $1.77 billion in the second quarter of 2026, down from 84 funds in the prior quarter. Rival managers also saw dips, with KKR held by 77 funds worth $3.57 billion, down from 82, and Apollo Global Management held by 77 funds worth $2.97 billion, down from 81.