Blackstone To Buy Majority Stake In Certified Collectibles In $500 Mln Deal

(RTTNews) - Blackstone (BX) said that funds managed by its Tactical Opportunities business have agreed to acquire a majority stake in the Certified Collectibles Group or CCG in a transaction valuing the company at more than $500 million.

Mark Salzberg, CCG's founder, and Steven Eichenbaum, CCG's CEO, will retain a significant minority stake.

CCG is a provider of expert, impartial and tech-enabled services that add value and liquidity to collectibles. Founded in 1987, CCG offers authentication, grading and conservation services that have unlocked billions of dollars in secondary market value.