Blackstone Acquires International Gemological Institute
Private equity funds managed by Blackstone have acquired International Gemological Institute (IGI) from Shanghai Yuyuan Tourist Mart (Group), a subsidiary of Fosun and Roland Lorie, who belongs to the founding family.
Founded in 1975 in Antwerp, IGI is a global player in independent certification of diamonds, gemstones and jewelry, with a global footprint of 29 laboratories and 18 schools of gemology across 10 countries. IGI is the world’s first gemological laboratory to hold ISO accreditation in both natural and lab-grown diamonds.
Deutsche Bank, Ernst & Young, Deloitte and Freshfields Bruckhaus Deringer acted as advisors to Yuyuan and Roland Lorie on the transaction. KPMG, Simpson Thacher & Bartlett and Cyril Amarchand Mangaldas acted as advisors to Blackstone.
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