Blackstone is now in discussions with investors regarding a possible exit from Indurent, its UK industrial and logistics property platform. The talks indicate a potential valuation of about £6 billion, equivalent to approximately $7.6 billion. Two main strategies are being evaluated: pursuing a listing in London or choosing to sell the platform outright. However, any concrete transaction is not expected for at least another 18 months.
#What is Indurent and Why is it Important?
Indurent emerged in February 2024 following the merger of two Blackstone-owned firms. These were Industrials REIT, which Blackstone had acquired in 2023, and St Modwen Logistics. In just two years, Indurent has established itself as a major player in the UK logistics real estate sector. The platform manages over 27 million square feet of warehouse and industrial real estate.
In its inaugural year, Indurent invested more than £1 billion, significantly expanding its presence by over 5 million square feet. This aggressive growth strategy has allowed it to accommodate thousands of customers throughout the UK. Leadership under CEO Julian Carey has been pivotal, ensuring the platform's offerings align with market needs and customer demands.