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Blackstone Completes Previously Announced Acquisition of Sphera, Leading Provider of ESG Software, Data, and Consulting Services

NEW YORK and CHICAGO, Sept. 14, 2021 (GLOBE NEWSWIRE) — Sphera today announced that private equity funds managed by Blackstone (NYSE: BX, "Blackstone") have completed their previously announced acquisition of Sphera, a leading provider of environmental, social and governance (ESG) software, data and consulting services, from Genstar Capital. The transaction, which values the company at $1.4 billion, continues Blackstone's thematic investment focus on the ESG sector and provides Sphera with capital to help accelerate its growth and product offerings.

Spanning over 80 countries with more than 3,000 customers, Sphera combines its software as a service solution with consulting services, underpinned by proprietary data, to support businesses globally to manage and mitigate ESG risk. This support is delivered through its three product lines: Environment, Health, Safety & Sustainability (EHS&S); Operational Risk Management; and Product Stewardship.

As part of Sphera's strategic growth efforts, the company is also announcing the appointment of Kimberly Kolb as chief human resources officer (CHRO). As CHRO, Kolb will be responsible for developing and supporting Sphera's global workforce as the organization continues to grow its footprint worldwide. She brings over 30 years of human resources, consulting and marketing experience from technology, professional service and financial services firms to the position, and held senior leadership roles at Whittman–Hart, CME Group and XR Trading.

Paul Marushka, CEO and president at Sphera, said, "As we enter this new stage, we are excited to be able to partner with Blackstone. Our achievements to date are a result of the dedication, hard work and effort of the team at Sphera. I am proud to collaborate with such a dedicated team as we take Sphera, with Blackstone's investment and support, to the next level. This partnership with and capital injection by Blackstone will facilitate the next evolution of innovation, cementing our position as leaders and allowing us to push ahead with our vision for ESG software integration with extensive data and world–class consultancy services."

Eli Nagler, a senior managing director at Blackstone, said: "We are excited to partner with Paul Marushka and his team to build on Sphera's strong momentum as a trusted leader in the ESG solutions space. We look forward to supporting the company in the next phase of its growth journey as they continue to expand their product offerings and innovate to best serve their global customer base."

Note to editors

About Sphera
Sphera creates a safer, more sustainable and productive world. We are a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services with a focus on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.

About Blackstone
Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long–term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $684 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non–investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact:

Sphera Solutions, Sphera@AspectusGroup.com


GLOBENEWSWIRE (Distribution ID 8325748)

Madison Realty Capital Originates $450 Million Construction Loan for 1,098-unit Mixed Use Development in Downtown Brooklyn

NEW YORK, Sept. 14, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $450 million loan to The Rabsky Group, one of the largest residential and commercial developers in Brooklyn and Queens, to complete development of a 1,098–unit, 35–story multifamily and retail mixed–use property at 625–635 Fulton Street at the intersection of Flatbush Avenue in Downtown Brooklyn, New York.

Josh Zegen, Managing Principal and Co–Founder of Madison Realty Capital, said, "This transaction represents Madison Realty Capital's ability to deliver speed, certainty, and execution to top–tier borrowers in highly attractive submarkets. Accordingly, we are pleased to provide The Rabsky Group, a highly sophisticated and experienced developer with significant holdings throughout the New York metropolitan area, with a large and flexible financing solution. Downtown Brooklyn is an ever–expanding neighborhood and new multifamily housing options, particularly of this caliber, will be quickly absorbed. We are glad to support a property under development that will offer significant affordable housing options and look forward to expanding our relationship with The Rabsky Group for additional projects that positively impact New York City."

Brooklyn is New York City's most populous borough and is home to one of the most diverse economies in the country. Proximity to major employment hubs and education centers have made Downtown Brooklyn one of New York's fastest growing residential markets. Moreover, Downtown Brooklyn has also become a technology and innovation hub and is home to 25 percent of New York City–based tech firms. The property is located within the Brooklyn Tech Triangle, an area comprised of Downtown Brooklyn, DUMBO, and the Brooklyn Navy Yard that has emerged as New York City's largest cluster of tech activity outside of Manhattan and is within two blocks of ten different subway lines.

Designed with two interconnected residential towers atop a five–story podium, the property will offer 590,096 rentable residential square feet across 342 studios, 492 one–bedroom and 264 two–bedroom units and 30% of the units will be affordable through the Affordable New York program. A portion of the affordable units will be part of the Inclusionary Housing Program for lower income tenants. Residents will enjoy top–of–the–line amenities including a fitness facility, spa, recreation areas, in–unit washers and dryers, lounges, and a rooftop outdoor pool with views of Manhattan and Brooklyn. In addition to best–in–class residential units the property will have 25,988 rentable square feet of retail space along Fulton Street, 250 parking spaces and 150 storage units.

The Rabsky Group is led by Simon Dushinsky, Yadler Rabinowitz, and Joel Gluck, who also contributed significant cash equity for the construction.

Henry Bodek of Galaxy Capital served as broker for the transaction.

About Madison Realty Capital

Madison Realty Capital is a vertically integrated real estate private equity firm that manages approximately $6 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $15 billion in transactions in the U.S. providing reputable borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with offices in Los Angeles and Miami, the firm has over 60 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer's prestigious "Power 100" list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.


GLOBENEWSWIRE (Distribution ID 8325195)