Blackstone: Blackstone acquires International Gemological Institute for $535 million

MUMBAI: In a landmark transaction with significant ties to India, Blackstone, the world’s largest alternative asset manager, has acquired the International Gemological Institute (IGI) for $535 million. This acquisition not only strengthens Blackstone‘s position in the gemology industry but also highlights India’s pivotal role in the deal.
The private equity funds managed by Blackstone have acquired the IGI from Shanghai Yuyuan Tourist Mart, a subsidiary of Fosun, and Roland Lorie, a member of the founding family.
Founded in 1975 in Antwerp, Belgium, IGI has established itself as a global leader in the independent certification of diamonds, gemstones, and jewellery. With 29 laboratories and 18 schools of gemology spread across 10 countries, IGI boasts an extensive international footprint. Notably, it is the first gemological laboratory in the world to hold ISO accreditation for both natural and lab-grown diamonds.
The management team at IGI India expressed enthusiasm regarding the acquisition. They emphasised the collaborative efforts between Blackstone and IGI to capitalise on the growing consumer demand and expand their market reach.
The acquisition of IGI marks a significant milestone in their expansion plans and reinforces India’s prominence in the global gemology landscape, Blackstone said.
Mukesh Mehta, a senior managing director in Blackstone’s Private Equity Group, expressed enthusiasm about the acquisition, stating, “IGI has led the way in certifying natural and lab-grown diamonds, and colored stones, emerging as a global market leader that instills confidence in manufacturers, retailers and consumers worldwide. We are excited to bring the expertise of Blackstone to the business, leveraging our operational capabilities, technological advancements and successful track record in building thriving enterprises to support IGI’s expansion on a global scale.”

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