Blackstone, an alternative asset manager, agreed to acquire Tricon Residential, an owner, operator and developer of a portfolio of approximately 38k single-family rental homes, for $3.5bn. “Tricon provides access to high-quality housing, and we are fully committed to delivering an exceptional resident experience together. We are excited that our capital will propel Tricon’s efforts to add much needed housing supply across the US and in Toronto, Canada,” Nadeem Meghji, Blackstone Real Estate Global Co-Head. On March 28, 2024, Tricon shareholders approved the privatisation proposal from Blackstone.