The Blackstone Group

Blackstone's $18.7 billion warehouse buy from GLP

The Blackstone Group agreed to pay $18.7 billion to buy a portfolio of U.S. industrial warehouses, totaling 179 million square feet, from Singapore's GLP, which had been prepping an IPO of the business.

Why it matters: It's the largest such purchase in history and makes Blackstone an even more dominant player in U.S. real estate. It's also the private equity industry's latest "back to the future" deal, as Blackstone previously owned around half of the properties, selling them to GLP in 2015.

Scoop: Ex-Treasury official Eli Miller to join Blackstone

Steve Mnuchin (C) and Eli Miller (R). Photo by Chip Somodevilla/Getty Images.

Eli Miller, who resigned last Thursday as chief of staff to Treasury Secretary Steve Mnuchin, has agreed to join private equity giant The Blackstone Group to work on public policy, Axios has learned.

Why it matters: Miller was Mnuchin's closest adviser, and he is staying within the Trump orbit by joining an investment firm led by Trump adviser Steve Schwarzman.