Blackstone Strategic Capital Holdings, the investment arm of U.S.-based asset management firm Blackstone Group LP, is in talks to acquire a minority stake in peer GI Partners.

With the acquisition, GI Partners will use a portion of the cash raised to invest in future funds or into new strategies.

The transaction could be valued at around $500 million.

In October, GI Partners plans to launch a digital infrastructure fund targeting assets such as data centres.