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NEW YORK--(BUSINESS WIRE)-- Blackstone (NYSE: BX) has successfully closed its previously announced CDN$7 billion equity investment in Rogers Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RCI).

Under the terms of the transaction, funds managed by Blackstone Credit & Insurance (鈥淏XCI鈥�) and leading Canadian institutional investors have acquired a non-controlling interest in a newly established subsidiary of Rogers that owns a portion of the company鈥檚 wireless backhaul transport infrastructure.

The Blackstone-led investor group includes Canada Pension Plan Investment Board (CPP Investments), Caisse de d茅p么t et placement du 蚕耻茅产别肠 (La Caisse), the Public Sector Pension Investment Board (PSP Investments), British Columbia Investment Management Corporation (BCI) and the Investment Management Corporation of Ontario (IMCO).

Robert Horn, Global Head of Infrastructure & Asset Based Credit at Blackstone, said: 鈥淲e鈥檙e thrilled to close this transaction with Rogers to further their growth and balance sheet objectives. This is another example of Blackstone providing flexible and efficient capital solutions for the world鈥檚 leading corporations, while delivering what we believe is a highly differentiated opportunity for our investors.鈥�

Mark Rutledge, US Head of Infrastructure Services at Blackstone Credit & Insurance, added: 鈥淩ogers鈥� backhaul network is positioned to enable the powerful megatrends we see in mobile data usage. We are excited to support Rogers in its next phase of investment and growth.鈥�

BXCI鈥檚 Infrastructure and Asset Based Credit platform manages over $90 billion and has over 70 investment professionals, among the largest in the asset-backed marketplace.

About Blackstone Credit & Insurance

Blackstone Credit & Insurance (鈥淏XCI鈥�) is one of the world鈥檚 leading credit investors. Our investments span the credit markets, including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

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Thomas Clements

[email protected]

(646) 482-6088

Source: Blackstone