Blackstone takes stake in €5b Italian RE manager

Blackstone Group has acquired a 35 percent stake in Italian real estate manager Kryalos Investments, the holding company of Kryalos Sgr.

In 2018, the value of the purchase and sale transactions concluded by Kryalos on behalf of 10 different investors amounted to about €1.2 billion ($1.4 billion).

Kryalos SGR SpA manages 34 real estate funds reserved for professional investors and, currently, has 44 employees.

Kryalos, which includes Kryalos SGR, Kryalos Asset Management and Kryalos Investments, operates in the fields of fund management, asset management and advisory with a team of 50 professionals and with assets under management of €5 billion ($6 billion), in offices, retail, logistics and hotel.

Blackstone has been active in Italy. Over the years, the firm has purchased offices in Milan, such as the former Palazzo delle Poste in Piazza Cordusio, and in Via Santa Margherita. Recently, Blackstone, through the Thesaurus fund of Kryalos sgr, purchased S