Blackstone acquires International Gemological Institute

Blackstone Buys IGI

Blackstone, a global private equity firm, has purchased the entire ownership of the International Gemological Institute (IGI) from Fosun, an investment company based in China, and Roland Lorie, a member of the founding family.

More About the News

• IGI is a leading global certification player for lab-grown and natural diamonds.
• Fosun, a China-based investment firm, held an 80% stake in IGI, while Roland Lorie, a member of the founding family, held 20%.
• The recent acquisition by Blackstone values IGI at an enterprise value of $535 million.
• Fosun has been selling down its portfolio in India amid geopolitical tensions, and the sale of its stake in IGI is one of its final investments in the country.

About Blackstone

• Blackstone is a renowned global private equity firm headquartered in New York City, United States.
• Blackstone was founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson.
• It is primarily focused on private equity investments but also operates in other areas such as real estate, credit, and hedge funds.
• As of the latest available information, Blackstone manages assets worth over $991 billion, making it one of the largest alternative investment firms globally.
• The firm invests in various industries and sectors, including technology, healthcare, energy, financial services, and real estate, among others.
• Blackstone has a strong global presence with offices located in major financial centers worldwide, including New York, London, Hong Kong, Mumbai, and Singapore, among others.
• Over the years, Blackstone has made significant investments in prominent companies and organizations. Some notable examples include Hilton Worldwide, Refinitiv, Versace, Bumble, and many others.
• Blackstone is highly regarded for its expertise in investment strategies, deal structuring, and value creation. It has a successful track record in generating returns for its investors.
• The firm actively engages in various corporate social responsibility initiatives, including philanthropy, environmental sustainability, and promoting diversity and inclusion.

About the International Gemological Institute (IGI)

• Founded in 1975 in Antwerp, IGI is a global player with a presence in 10 countries, including 29 laboratories and 18 schools of gemology.
• IGI holds ISO accreditation for both natural and lab-grown diamonds, making it the world’s first gemological laboratory to achieve this distinction.
• IGI has been a pioneer in certifying natural diamonds, lab-grown diamonds, and colored stones, providing confidence to manufacturers, retailers, and consumers worldwide. It assesses and provides detailed reports on the authenticity, quality, and characteristics of these precious stones.
• IGI issues detailed reports that provide information about the 4Cs of diamonds (carat weight, color, clarity, and cut), as well as additional data on measurements, proportions, fluorescence, and other relevant characteristics.
• IGI has a strong international presence with laboratories and offices in major cities around the world, including Antwerp, New York, Mumbai, Bangkok, Tokyo, and Dubai, among others.
• The lab-grown diamond retail market is estimated to be worth $7 billion, growing at a 15% CAGR, while natural diamond jewelry retail sales are valued at approximately $80 billion, growing at a 3% CAGR.
• The acquisition by Blackstone is expected to bring operational expertise, technological capabilities, and global expansion opportunities to IGI.

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