Blackstone-backed Indurent, a UK logistics real estate company, has begun contacting investors ahead of a potential sale or listing in London that could value it at about 6 billion pounds (US$8.02 billion), according to people familiar with the matter.

The process is expected to take about 18 months, the people said, as private equity firms seek to revive exits after global private equity exit value fell 44% in 2023 and activity in 2024 stayed near a five-year low.

Indurent was formed in February 2024 through the merger of St. Modwen Logistics and Industrials REIT.

The company says its portfolio now spans 32 million sq ft across 230+ sites in the UK and serves 2,500 customers.

Indurent is owned by funds managed by Blackstone.

At launch, Blackstone said the merger combined St. Modwen’s development capability with Industrials REIT’s operating platform.

Blackstone has invested about 2 billion pounds (US$2.67 billion) in development and acquisitions, the people said.

🔗 Source: Cailianshe