01.05.2022

Blackstone Accelerates Digital Transformation with Beacon Platform

01.05.2022
Terry Flanagan
Blackstone Accelerates Digital Transformation with Beacon Platform

NEW YORK, January 05, 2021 — Beacon Platform is pleased to announce that Blackstone (NYSE: BX), a leading global alternative asset manager, has chosen to integrate Beacon with their strategic financial and cloud technologies, accelerating the firm’s digital transformation. Blackstone has also invested in Beacon’s recent Series C funding round, which raised $56 million to advance the company’s leading position in cloud-based enterprise financial software.

“Beacon is a state-of-the-art application development platform that enables quants, data scientists and engineers to model and manage risk in a more scalable way. We look forward to expanding our use of Beacon across Blackstone and continuing our partnership with the company,” said John Stecher, Chief Technology Officer of Blackstone.

“Beacon brings tremendous capabilities to help us scale quantitative research and financial engineering across Blackstone. We are excited to utilize Beacon’s flexible and extensible data model at the firm to enable us to deliver value to each business more quickly,” said Thomas Pologruto, Blackstone’s Chief Data Architect.

“Working together, Beacon and Blackstone are finding new ways to leverage and extend Beacon’s scalable and secure technologies,” said Kirat Singh, Beacon’s CEO and Co-Founder. “Beacon is a capital markets pre-trade/risk and analytics platform with transparent source, giving Blackstone the unique ability to build on top of our models and focus resources on their own proprietary models and competitive edge.”

Beacon’s capabilities complement and readily integrate with Blackstone’s existing tech stack. Application and systems developers are spending less time managing common infrastructure and can transparently scale compute to the cloud. Quants find it easier to collaborate and reuse code. End users benefit from faster deployment of new and enhanced functionality. Beacon and Blackstone are partnering to drive improvements in workflow efficiency, responsiveness to changing markets, and making it easier to capture new business opportunities.

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About Beacon

Beacon Platform moves financial markets into the future with secure and scalable quant technology, elastic cloud infrastructure, and front-office applications. The integrated development environment and a web application framework make developing applications faster and easier. Born from decades of collective experience developing trading and risk management systems for Bank of America Merrill Lynch, JPMorgan Chase, and Goldman Sachs, Beacon Platform gives you the robustness and flexibility of these powerful tools. See how you can increase the return on research and development investments from Beacon’s next-generation platform for enterprise-scale analytics, trading, risk management, and more at www.beacon.io.

Related articles

  1. A ‘COVID normal’ future is revealing cracks.

  2. Digital transformation will continue to be an area of intense focus.

  3. Rules can enable firms to think creatively, ISITC Vice Chair writes.

  4. Digital transformation provides fertile soil for new revenue streams.

  5. Experimentation will play a critical role in the process.