Is Blackstone Inc. (BX) One of the Best Dividend Stocks to Invest in According to Jim Simons’ Renaissance Technologies?

Blackstone (NYSE:BX) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies. On July 6, Blackstone (NYSE:BX) announced that funds managed by Blackstone Energy Transition Partners have reached an agreement to acquire Dresser Utility Solutions.

With the acquisition, the unit gains access to a premier provider of mission-critical natural gas, water measurement, and infrastructure equipment solutions. Additionally, it represents the first investment by Blackstone’s private equity energy transition vehicle. The acquisition comes as Dresser increasingly capitalizes on soaring demand for energy grid infrastructure, positioning itself as a trusted partner in managing essential infrastructure.

According to David Evans, CEO of Dresser Utility Solutions, the transaction marks an important milestone. For starters, it paves the way to leverage Blackstone’s deep resources and experience in the utility sector to continue investing in innovation and expand the product portfolio. The ultimate goal is to help Dresser build a leading infrastructure technology platform that enables utilities to optimize assets and manage digital transformation.

Blackstone Inc. (NYSE:BX) is the world’s largest alternative asset manager. It invests on behalf of institutional and individual investors by acquiring, managing, and improving various assets—such as corporate private equity, commercial real estate, infrastructure, and credit—to generate profitable returns.

READ NEXT: 10 Best Stocks to Buy According to David Greenspan’s Slate Path Capital and 10 AI Stocks on Wall Street’s Radar: Datadog, Microsoft, and More.

Disclosure: None. Follow Insider Monkey on Google News.