New York - BTIG has signed a definitive agreement to receive a strategic investment from funds managed by Blackstone Tactical Opportunities. BTIG and its affiliates in Europe, Asia and Australia will continue to operate as fully independent entities. Financial terms of the private transaction were not disclosed.
"Since we started twelve years ago, BTIG has been one of the fastest-growing institutional brokerage firms in the US. Partnering with Blackstone Tactical Opportunities will further enhance our offerings and allow us to advance key strategic initiatives," said Scott Kovalik, Co-Founder and Chief Executive Officer of BTIG.
Steven Starker, Co-Founder of BTIG said: "Strategically aligning with another industry leader will help to strengthen our brand, and amplify our ability to identify valuable client opportunities."