Blackstone To Acquire Harvest Fund Advisors

(RTTNews) - Blackstone (BX) said that it has entered into an agreement to acquire Harvest Fund Advisors LLC, an independent investment management firm with over $10 billion in assets under management.

Harvest primarily invests capital raised from institutional investors in separately managed accounts and pooled vehicles, investing in public master limited partnerships (MLPs) holding U.S. midstream energy assets. Terms of the agreement were not disclosed.

The transaction is subject to customary closing conditions and is expected to close during the fourth quarter of 2017.