Blackstone, the private equity giant which owns stakes in Legoland and swathes of British real estate, will this week pledge to invest £100bn in UK assets over the next decade during President Trump’s state visit.
Sky News has learnt that the investment group will unveil the commitment as part of a government-orchestrated announcement aimed at shifting attention back to the economic ties between Britain and the US.
President Trump’s arrival in the UK this week will come against a febrile political backdrop, following Lord Mandelson’s sacking as US ambassador over his ties to the late sex offender Jeffrey Epstein.
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Ministers have already begun announcing billions of pounds worth of partnerships in sectors such as financial services and nuclear power, with further deals to follow in areas including artificial intelligence.
Blackstone’s £100bn commitment to UK investments over the next decade forms part of a $500bn European splurge announced by the buyout firm in June, according to a person familiar with its plans.
The figure will encompass private equity buyouts as well as other forms of investment, they added.
A source close to the firm said it had agreed to invest the sum following talks with Downing Street officials led by Varun Chandra, Sir Keir Starmer’s business adviser.
Blackstone has for decades been one of the most prolific investors in British companies, and only last week triumphed in a £490m takeover battle for Warehouse REIT, a London-listed logistics company.
Last week, it emerged that Southern Water had banned water tanker deliveries to a country estate owned by Stephen Schwarzman, Blackstone’s billionaire chief executive.
Sky News revealed last week that Mr Schwarzman would be among the corporate chiefs accompanying President Trump on his state visit.
Blackstone, which manages assets worth about $1.2trn, declined to comment.
