PE Deals

Blackstone picks up International Gemological Institute

IGI is an independent lab for testing and grading gemstones and fine jewellery.

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  • Shanghai Yuyuan Tourist Mart and Roland Lorie are the sellers
  • Blackstone is an alternative asset manager based in New York
  • The firm has $991bn of assets under management

Blackstone has acquired International Gemological Institute (IGI), an independent lab for testing and grading gemstones and fine jewellery, from Shanghai Yuyuan Tourist Mart, a subsidiary of Fosun, and Roland Lorie, who belongs to IGI’s founding family.

UPDATE: The enterprise value of IGI was about $530 million, PE Hub Europe understands.

IGI is based in Antwerp, Belgium. The company has a global footprint of 29 labs and 18 schools of gemology across 10 countries.

“We are bringing the best of Blackstone to the business – our operational expertise, capabilities in technology, and global track record in building successful businesses to help the company expand its global footprint,” said Mukesh Mehta, a senior MD in Blackstone Private Equity Group.

Blackstone is an alternative asset manager with $991 billion in assets under management. The firm is based in New York.

Shanghai Yuyuan Tourist Mart the flagship platform of Fosun’s consumer sector. The company is based in Shanghai, China.

Fosun is a global consumer group headquartered in Shanghai, China.

KPMG, Simpson Thacher & Bartlett and Cyril Amarchand Mangaldas acted as advisors to Blackstone.