A Blackstone-managed fund is in talks to acquire a minority stake in FTV Capital, a growth-equity investment firm, according to Bloomberg, attributing an unnamed source. The prospects for the deal’s success are unknown.
FTV raised $2.3 billion in 2022 for its largest fund. Typically, the firm makes equity investments of $30 million to $200 million and concentrates on enterprise technology, financial services, payments, and transaction processing. FTV’s portfolio includes companies such as ID.me, LoanPro, and ETF Securities. The 25-year-old firm has offices in both San Francisco and New York.
Blackstone is a New York-based alternative investment management company. Its private equity business has been one of the largest investors in leveraged buyouts. Alternative asset managers have increasingly leaned on passive stake sales to generate liquidity, which some founders use to reinvest in firms, according to Bloomberg.