Blackstone Completes CDN$7 Billion Equity Investment in Rogers in Partnership with Leading Canadian Institutional Investors

June 20, 2025 at 16:09 PM EDT

Blackstone (NYSE: BX) has successfully closed its previously announced CDN$7 billion equity investment in Rogers Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RCI).

Under the terms of the transaction, funds managed by Blackstone Credit & Insurance (“BXCI”) and leading Canadian institutional investors have acquired a non-controlling interest in a newly established subsidiary of Rogers that owns a portion of the company’s wireless backhaul transport infrastructure.

The Blackstone-led investor group includes Canada Pension Plan Investment Board (CPP Investments), Caisse de dépôt et placement du Québec (La Caisse), the Public Sector Pension Investment Board (PSP Investments), British Columbia Investment Management Corporation (BCI) and the Investment Management Corporation of Ontario (IMCO).

Robert Horn, Global Head of Infrastructure & Asset Based Credit at Blackstone, said: “We’re thrilled to close this transaction with Rogers to further their growth and balance sheet objectives. This is another example of Blackstone providing flexible and efficient capital solutions for the world’s leading corporations, while delivering what we believe is a highly differentiated opportunity for our investors.”

Mark Rutledge, US Head of Infrastructure Services at Blackstone Credit & Insurance, added: “Rogers’ backhaul network is positioned to enable the powerful megatrends we see in mobile data usage. We are excited to support Rogers in its next phase of investment and growth.”

BXCI’s Infrastructure and Asset Based Credit platform manages over $90 billion and has over 70 investment professionals, among the largest in the asset-backed marketplace.

About Blackstone Credit & Insurance

Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.