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Blackstone acquires IGI for US$ 570mn

Blackstone announced today that private equity funds managed by Blackstone (“Blackstone”) have acquired International Gemological Institute (“IGI”) from Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. a subsidiary of Fosun, and Roland Lorie, who belongs to the founding family.The company struck an acquisition deal worth USD 570 million, according to media reports.

Founded in 1975 in Antwerp, IGI is a global leader 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. Since 2005, IGI has pioneered the certification of lab-grown diamonds, paving the authentication and standardization of a rapidly growing industry.

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