Blackstone Acquires International Gemological Institute Blackstone will be aiming to expand the company's global footprint using its operational expertise, capabilities in technology, and global track record in building successful businesses

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Global private equity firm Blackstone has announced that it has acquired the International Gemological Institute (IGI) from Shanghai Yuyuan Tourist Mart (Group) Co Ltd, a subsidiary of Fosun, and Roland Lorie, a member of the founding family, at an enterprise value of over $525 million.

The company is a global leader in independent certification of diamonds, gemstones, and jewellery, with a global footprint of 29 laboratories, including 18 in India, and 18 schools of gemology across 10 countries. Notably, IGI holds the distinction of being the world's first gemological laboratory to receive ISO accreditation for both natural and lab-grown diamonds. Additionally, since 2005, IGI has been at the forefront of certifying lab-grown diamonds, playing a pivotal role in establishing authenticity and standardization within this rapidly expanding industry according to a PTI report.

"IGI has spearheaded the certification of natural diamonds, lab-grown diamonds, and coloured stones, becoming a global market leader and providing confidence to manufacturers, retailers, and consumers around the world," IGI's senior managing director Mukesh Mehta reportedly said in a statement.

"Blackstone will be aiming to expand the company's global footprint using its operational expertise, capabilities in technology, and global track record in building successful businesses," Mehta further added.

"With nearly 50 years of successful operations since our company's inception, we are pleased to entrust Blackstone with taking IGI to the next stage of development. Under Blackstone's patronage, we intend to enhance our proximity to consumers and drive exponential business growth," said Roland Lorie, CEO, IGI.

Wavy Line
Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Related Topics

Growing a Business

How to Disrupt Hustle Culture and Build a Business That Supports Your Wellness

You can leave work at five each day. You can turn off your phone in the evenings and take weekends off. You can exercise. You can be fully present with your family. You will be better for it, and so will your business.

Growing a Business

14 Easy Ways to Rank Your Website Higher on Google

Despite Google's algorithm and regular updates, you can quickly boost your website's ranking with these tips.

News and Trends

EV Finance Company Revfin Secures $5 Million Investment From DFC

Revfin plans to utilize the funds for new products and expansion to new geographies


5 Traits and Characteristics of Successful Entrepreneurs in 2023

Entrepreneurship has become the new trending topic in the business world. In 2023, the entrepreneurial world is expected to flourish more than ever, and it will take a certain set of skills to be a successful entrepreneur. This article highlights what it takes to be a successful entrepreneur in 2023.

Business Ideas

Top 25 Side Hustles to Make Money During Summer 2023

While the weather is warm, there are numerous ways to earn additional income. It is even possible to make money year-round with many of these ideas. But, here are the top 25 side hustles to make money during the summer.