Blackstone plans to make the investment via its infrastructure and tactical opportunities funds, said one of the people, all of whom asked not to be identified as the details aren’t public. A potential deal would give Blackstone ownership of about 50% the company, one of the people said.
No investment has yet been finalized and it’s possible deal talks could fall apart, the people said,
A Blackstone representative declined to comment. A spokesperson for Fort Lauderdale-based Hotwire Communications didn’t immediately respond to requests for comment.
Co-founded by President and Chief Executive Officer Kristin Johnson, Hotwire Communications provides fiber-optic networks to multi-family environments such as gated communities, condominiums and dormitories to power internet, television, digital phone and home security connections.
Blackstone’s tactical opportunities arm has $32 billion in assets under management and raised $4.1 billion in 2018 for its third fund. It focuses on industries outside of Blackstone’s typical reach, and has invested in companies such as cloud services provider Cloudreach and gold miner Pretium, according to its website. Blackstone’s infrastructure business, which invests across industries such as energy, waste and transportation, has $15 billion in committed capital.
This content was originally published here.