Private equity giant Blackstone this morning officially confirmed its purchase of Ancestry.com, the popular DNA testing and family history research website.
It’s the first control acquisition for the private equity firm’s flagship private equity vehicle -- but the stake is symbolic of two major trends the $564 billion firm is seeking to capitalize as it sits on a record level of cash to put to work.
The $4.7 billion purchase includes the stakes of other private equity firms: Silver Lake, GIC, Spectrum Equity and Permira. Of the group, only the Singaporean sovereign . . .