International Gemological Institute (IGI), the world’s largest certification player for lab grown diamonds and the second largest certification player for natural diamonds, has been fully acquired by global private equity firm Blackstone. The $535m deal sees Blackstone taking over the 80% stake held by China-based investment firm Fosun, as well as the 20% stake held by Roland Lorie, a member of the founding family.
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This latest move represents one of the final investments from Fosun’s decade-long portfolio, following the sale of stakes in companies like Ixigo, Kissht, and Delhivery. Fosun is also currently seeking exits from Trell, Gland Pharma, and other investments.
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