GradingApr 10, 2023
GIA Is Going Back to Paper ReportsGradingMay 22, 2023
Blackstone Officially Inks Deal to Acquire IGI
Blackstone is buying the 80 percent stake in the lab owned by a Chinese company as well as the 20 percent held by the Lorie family.
Private equity firm Blackstone has acquired the International Gemological Institute, which operates 29 grading labs and 18 gemology schools across 10 countries.
New York—Private equity giant Blackstone has acquired the International Gemological Institute, the two companies confirmed Sunday in a joint announcement.
The purchase price was $569.7 million, according to a separate statement issued by the lab’s majority owner, a Fosun subsidiary.
Blackstone purchased the grading lab from Shanghai Yuyuan Tourist Mart (Group) Co. Ltd., a subsidiary of Chinese conglomerate Fosun, and Roland Lorie, IGI’s CEO and a member of the founding family.
Fosun acquired an 80 percent stake in the business in 2018, while the remaining 20 percent stayed with its founders, the Belgium-based Lorie family.
The family founded IGI in Antwerp in 1975. It now operates 29 grading labs and 18 gemology schools across 10 countries.
Rumors that Fosun, which is working to reduce debt, wanted to offload its stake in the business first began circulating in January.
Lorie said, “IGI has had a successful track record for close to 50 years since we founded the company, and we are pleased to entrust Blackstone to take IGI on to its next stage of development.
“Under the patronage of Blackstone, we intend to get even closer to the consumer and to grow the business exponentially. The company’s management team is excited to welcome Blackstone and further cement and build upon our market-leading position with the help of Blackstone’s scale, expertise and global network.”
Lorie will remain CEO, he said, while the management team and its nearly 1,000 employees also will remain in place.
Haide Hong, a senior managing director in Blackstone Private Equity Group, said the company has been impressed by IGI’s development under its current management.
“With its strong brand and reputation of upholding the highest standards of quality and authenticity, IGI is well-positioned to benefit from the increasing popularity of gemology,” Hong said.
The acquisition news follows other recent mergers and acquisitions among the industry’s grading labs.
Earlier this month, Israel-based equipment and technology company Sarine completed its acquisition of a majority stake in the Gem Certification and Assurance Laboratory (GCAL), founded by Don and Pamela Palmieri in 2001.
In October 2022, the American Gem Society announced it would close AGS Laboratories at the end of 2022 and merge its operations with the Gemological Institute of America.
Related stories will be right here …
The purchase price was $569.7 million, according to a separate statement issued by the lab’s majority owner, a Fosun subsidiary.
Blackstone purchased the grading lab from Shanghai Yuyuan Tourist Mart (Group) Co. Ltd., a subsidiary of Chinese conglomerate Fosun, and Roland Lorie, IGI’s CEO and a member of the founding family.
Fosun acquired an 80 percent stake in the business in 2018, while the remaining 20 percent stayed with its founders, the Belgium-based Lorie family.
The family founded IGI in Antwerp in 1975. It now operates 29 grading labs and 18 gemology schools across 10 countries.
Rumors that Fosun, which is working to reduce debt, wanted to offload its stake in the business first began circulating in January.
Lorie said, “IGI has had a successful track record for close to 50 years since we founded the company, and we are pleased to entrust Blackstone to take IGI on to its next stage of development.
“Under the patronage of Blackstone, we intend to get even closer to the consumer and to grow the business exponentially. The company’s management team is excited to welcome Blackstone and further cement and build upon our market-leading position with the help of Blackstone’s scale, expertise and global network.”
Lorie will remain CEO, he said, while the management team and its nearly 1,000 employees also will remain in place.
Haide Hong, a senior managing director in Blackstone Private Equity Group, said the company has been impressed by IGI’s development under its current management.
“With its strong brand and reputation of upholding the highest standards of quality and authenticity, IGI is well-positioned to benefit from the increasing popularity of gemology,” Hong said.
The acquisition news follows other recent mergers and acquisitions among the industry’s grading labs.
Earlier this month, Israel-based equipment and technology company Sarine completed its acquisition of a majority stake in the Gem Certification and Assurance Laboratory (GCAL), founded by Don and Pamela Palmieri in 2001.
In October 2022, the American Gem Society announced it would close AGS Laboratories at the end of 2022 and merge its operations with the Gemological Institute of America.
More on Grading
The Latest
TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
Weekly QuizDec 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SurveysDec 10, 2025
Consumer Confidence Drops in November Inflations, tariffs, and politics—including the government shutdown—were among consumers’ top concerns last month.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
ColumnistsDec 09, 2025
Holiday Sales Happen in December, Most Decisions Don’tMost customers who walk into your store this month have made up their minds. Your job is to validate their choice, Emmanuel Raheb writes.
TrendsDec 09, 2025
‘Once Upon a Time,’ Guzema Debuted Its Holiday CollectionThe collection features characters and motifs from Ukrainian folklore, including an enchanted mirror and a magic egg.
TechnologyDec 09, 2025
Gemvision Releases Updated MatrixGoldMatrixGold 3.11, the newest version of the jewelry design program, offers more flexibility, precision, and creative control.
Events & AwardsDec 09, 2025
MJSA Showcase Pavilion Returning to JA New York The pavilion will be part of the 2026 JA New York Spring show, scheduled for March 15 to 17.
MajorsDec 08, 2025
Juell Kadet, a ‘Lifelong Pillar’ of Rogers & Hollands, Dies at 96Kadet, a 1994 National Jeweler Retailer Hall of Fame inductee, helped grow the family-owned retailer in the Chicago area and beyond.
TechnologyDec 08, 2025
You’ve Heard of Smart Watches and Rings; Meet Smart EarringsBilled as the world’s smallest wearable, Lumia Health’s new smart earrings have a health tracker subtly embedded in the back.
TrendsDec 08, 2025
Amanda’s Style File: Celebrating December’s BirthstonesDon’t let those with December birthdays feel blue. Help them celebrate their month with blue zircon, turquoise, and tanzanite.
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
MajorsDec 05, 2025
Stuller Releases ‘Wrapped in Wonder’ CampaignThe manufacturer’s holiday campaign features a gift guide filled with trending designs and jewelry that can be personalized.
CrimeDec 04, 2025
Man Arrested After Allegedly Swallowing Fabergé Egg PendantThe man was charged with theft, accused of ingesting the necklace while in a jewelry store in Auckland, New Zealand.
IndependentsDec 04, 2025
Step Inside JR Dunn Jewelers’ Giant New Store The Florida independent expanded its store from 8,000 to 14,000 square feet, fulfilling the vision of its late co-founder, Jim Dunn.
Supplier BulletinDec 04, 2025
Introducing Shop Natural Day: A New Movement Celebrating Natural DiamondsSponsored by De Beers Group
WatchesDec 04, 2025
Casio Shrinks its G-Shock WatchThe classic 5600 series G-Shock has been scaled down to about a tenth of its size, becoming a fully functioning watch ring.
Events & AwardsDec 04, 2025
AGA Announces 2026 Tucson Speaker LineupThe association’s annual conference and gala will take place Feb. 4, 2026, during the Tucson gem shows.
Events & AwardsDec 04, 2025
CBG Announces Speaker Lineup for 2026 Miami Event The January show will include a workshop for jewelry retailers on implementing AI to strengthen their businesses.
