Deals
Blackstone to Buy Bulk Purchaser CoreTrust From HCA Subsidiary
- Firm getting supply chain used by its companies, and rivals
- Bet is competitors’ portfolio firms will stay with CoreTrust
The Blackstone Group headquarters in New York.
Photographer: Mark Abramson/BloombergThis article is for subscribers only.
Blackstone Inc. is buying a company that controls how a swath of businesses owned by private equity firms secure and pay for goods and services as varied as printers, pallets and postage.
The world’s largest alternative asset manager agreed to buy a majority stake in CoreTrust, a business that started within a supply arm for hospital giant HCA Healthcare Inc., Blackstone executives said. HCA’s HealthTrust subsidiary will continue to hold a minority stake in CoreTrust. A Blackstone spokesperson declined to comment on financial terms of the deal.