Park Place Technologies
BXCI led a $2B financing for a leading third-party maintenance services provider for data centers [ 1 ]
deal highlights
Park Place: Market Leader with Proven History of Growth
- Global leading market position
- Stable, resilient business model
- Attractive recurring revenue
- Diversified customer base
- Strong sector tailwinds
- High cash flow conversion
Underwritten yield [ 2 ]
11%
LTV on senior secured facility
<50%
Financing held by BXCI & third parties
90%
Power of the Platform
Enabling Blackstone Credit & Insurance (BXCI) to provide a one stop shop solution and be selected as partner of choice
Scaled & Flexible Capital
Scaled & Flexible Capital
BXCI provided a scaled and comprehensive debt solution across multiple tranches, holding 90% of the commitment with third parties.
Total Facility Hold
Value Add Lender
Value Add Lender
Park Place has benefitted from BXCI’s Value Creation Program with introductions to other portfolio companies.
Blackstone portfolio companies use Park Place as a preferred provider
80
Blackstone portfolio companies use Park Place as a preferred provider
80
Deep Sector Expertise
Deep Sector Expertise
As the owner of the fastest growing data center company, [ 3 ] Blackstone has a deep understanding of the sector.
Trusted Partner
Trusted Partner
BXCI’s knowledge of the company came from an incumbent position and a strong relationship with the private equity sponsor.
Data Centers
Investing In the AI Revolution
A New Frontier: Explosive Growth in Global Data Creation
Data Created, Consumed and Stored [ 4 ] (Zettabytes)
The surge in AI requires robust digital infrastructure to process, store and transmit vast amounts of data, representing what we believe is a once-in-a generation boost in demand. BCRED seeks to invest in companies, like Park Place, that provide critical support for one of Blackstone’s highest conviction sectors.
Important Disclosure Information
NOT FOR USE WITH FINANCIAL ADVISORS OR INVESTORS IN THE STATE OF NEW JERSEY OR IN THE STATE OF OHIO.
All information is as of June 30, 2024, unless otherwise indicated. Reflects Blackstone Credit & Insurance’s views and beliefs as of the date appearing on this material only, which is subject to change. Past performance does not predict future returns and there can be no assurance that the fund will achieve results to those of any of Blackstone Credit & Insurance’s prior funds or be able to implement its strategy or achieve its investment objectives, including due to an inability to access sufficient investment opportunities. The case study presented herein reflects an objective, non-performance based standard of showing BCRED’s largest new investment in Q1’24. All rights to the trademarks and/or logos listed herein belong to their respective owners and Blackstone Credit & Insurance’s use hereof does not imply any affiliation with, or endorsement by the owners of these trademarks and/or logos.