Blackstone Real Estate Embraces Outsourcing for Rapid Deployment of Financial and HR Systems for Recent Acquisition.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 9, 2002 Leading Investment Firm Turns to NDS See eDirectory. NDS - Netware Directory Services to Coordinate Deployment of Complex Outsourcing Project Blackstone Real Estate Advisors, an affiliate of the Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, ("Blackstone"), announced today that they have selected National Decision Systems ("NDS") to manage the deployment of Finance and HR systems for recently acquired Homestead Village Management L.L.C. ("Homestead"), a leading extended-stay hotel company. All Homestead administrative functions were centralized with the parent holding company. As a result of the recent acquisition by Blackstone, the deployment team needs to build-out Homestead's HR and Finance departments. Operating in an extremely compressed timeframe, the team must design and staff new departments, select the appropriate technology, and deploy new Finance and HR systems and processes. The Homestead financial and human resource departments support back-office operations for Homestead's 111 properties and nearly 15,000 rooms located throughout the continental United States United States territory, including the adjacent territorial waters, located within North America between Canada and Mexico. Also called CONUS. "In the past, we used NDS as an unbiased partner to help us make strategic IT choices", said Bill Stein William Allen Stein (January 21, 1947 in Battle Creek, Michigan), is a former professional baseball player who played in the Major Leagues primarily as an infielder from 1972-1985. Teams
intr. & tr.v. de·railed, de·rail·ing, de·rails 1. To run or cause to run off the rails. 2. a project." "NDS and Blackstone are a perfect match," said Rich Foudy President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of NDS. "We do best in an environment where events drive the need for speed and decisive action." John Ceriale, Blackstone's Hotel Advisor added, "We like working with moderately sized, high-end boutique firms. I can pick up the phone and reach a principal of NDS anytime of the day, seven days a week. I love that kind of responsiveness." About The Blackstone Group The Blackstone Group, a private investment bank with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London, was founded in 1985. Blackstone's Real Estate Group has raised a total of four funds representing around $4 billion in total equity. Blackstone has made approximately 110 separate investments in hotels, offices and other commercial properties with a total transaction value of over $13 billion. In addition to real estate investing Real estate investing involves the purchase of real estate for profit. Profits are accumulated slowly by renting out properties in a cashflow method, or are generally improved and resold for a capital gain. , The Blackstone Group's core businesses include Mergers and Acquisitions Advisory, Restructuring and Reorganization Advisory, Private Equity Investing, Corporate Debt Investing and Liquid Alternative Asset Management. Additional information about The Blackstone Group is available at http://www.blackstone.com. About NDS NDS, a leader in consulting and information technology services, partners with Global 2000 companies to provide business consulting, systems integration, application development and product engineering services. Through these services, NDS enables its clients to fully exploit technology for business transformation. Clients leverage NDS' proprietary methodology to achieve higher quality, rapid time-to-market and cost-effective solutions. For more information, visit www.ndsweb.com. |
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