NEW YORK--(BUSINESS WIRE)--Ai Media Group, LLC (“Ai”) and Blackstone announced today that funds managed by Blackstone Tactical Opportunities have made a minority investment in Ai. Terms of the transaction were not disclosed.
“On behalf of our customers and our talented and dedicated associates, we couldn't be more enthusiastic about working with Blackstone at this important phase of the company's development,” said Andy Fenster, Ai’s Chief Executive Officer. “Blackstone’s vision, resources and commitment will help take our company to the next level.”
Sergio Alvarez, Ai’s Chief Operating Officer, said, “Our rapid growth and success first and foremost stems from our people, who we consider to be the best in the industry. We look forward to partnering with Blackstone as we continue to advance our technology, while preserving the culture and DNA that has led Ai Media Group to its current leadership position in the digital marketing space.”
“We are pleased to partner with Ai’s strong management team,” said Viral Patel, Managing Director at Blackstone. “Ai's unique offering of cross-channel attribution, efficient processes and quality service stands out by helping clients achieve revenue goals with measurable results and real accountability.”
Corporate Partners & Co. and Methuselah Advisors acted as financial advisors to Ai in this transaction. Cooley LLP and Akin Gump Strauss Hauer & Feld LLP provided legal advice to Ai and Blackstone, respectively.
About Ai Media Group
Founded by Andy Fenster, CEO, Sergio Alvarez, COO and Ron Trenka, CIO in 2008, Ai is a performance-based digital marketing services company with industry-leading capabilities to drive sales and leads, not merely track clicks, for large and medium-sized enterprises.
About Blackstone Tactical Opportunities
Blackstone’s Tactical Opportunities business employs an opportunistic investment strategy across asset classes, industries and geographies. The strategy seeks to capitalize on time-sensitive or non-traditional investment opportunities that are differentiated and difficult to source, analyze or execute.