Blackstone Sells $1.3B India Trust Stake

Blackstone Inc. has successfully divested up to 25% of its holdings in India's Knowledge Realty Trust, raising approximately $1.3 billion. This marks the largest share sale by a private shareholder in India utilizing this particular method. The offering was fully subscribed, enabling Blackstone to increase the transaction size beyond its initial target.

Following the sale, Blackstone's stake in Knowledge Realty Trust will decrease to around 21.5%, down from its previous 46.5% holding. This strategic move allows Blackstone to monetize a mature investment and recycle capital for future opportunities. The trust, which owns 29 properties across six Indian cities, has seen a roughly 10% gain since its August 2025 listing.

Despite the partial exit, Blackstone retains substantial economic exposure to the trust's performance, with the Sattva Group emerging as the largest shareholder at 32%. While the sale involved a discount to net asset value and the prior trading price, it validates investor interest in India's commercial real estate sector and Blackstone's ability to generate value from its portfolio.