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Blackstone takes controlling interest in Great Wolf Resorts

|About: The Blackstone Group Inc. (BX)|By: , SA News Editor

Blackstone (NYSE:BX) Real Estate Partners IX is acquiring a 65% controlling stake in Centerbridge Partners' Great Wolf Resorts, which owns an operates 18 family-oriented entertainment resorts.

As part of the transaction Blackstone and Centerbridge will form a new $2.9B joint venture to own Great Wolf.