Blackstone’s Spanx and Supergoop Bets Are Stuck in Low Gear

The Information · Ann Gehan · last updated November 11, 2024 – 9:55 AM

How tough is it out there for investors that made big consumer bets in recent years? Just take a look at private equity giant Blackstone.

Blackstone’s $4.5 billion debut growth equity fund is sitting on steep paper losses in oat milk brand Oatly, whose shares dropped soon after its 2021 initial public offering. The fund’s bet on skincare brand Supergoop has barely gained anything on paper, and it recently marked down some gains in shapewear maker Spanx, the fund told investors, citing underperformance in the second quarter.

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