ew delhi leading global investment firm blackstone has invested rs 1750 crore in kishore biyani led future group firm future lifestyle fashions ltd flflfunds managed by blackstone have invested rs 1750 crore including by way of debentures in ryka commercial ventures the holding company of flfl the company saidit further added that with this transaction blackstone will be the only financial partner in ryka as a part of the transaction blackstone has also acquired a 6 per cent stake in flfl through a block deal with rykaflfl and the future group are expected to benefit from blackstones portfolio operations team to create value in its business the statement saidthe fund would be utilised to retirepreretire all existing financial obligations of rykawe have been impressed with the business that kishore biyani has built at future group and are delighted to support future group in this journey kishore moorjani head of blackstone tactical opportunities asia saidflfl is an integrated branded fashion company and operates inhouse retail chains like central brand factory and planet sports along with a portfolio of 20 domestic and global fashion brandsthis is our first investment in this sector we look forward to being a valueadded investor as flfl and the future group continue to cater to the fashion needs of aspiring india blackstone managing director luv parikh saidfuture group ceo kishore biyani said blackstone will support us in the continued growth of our fashion business bringing global perspectives that will help us take flfl to the next levelas on september 30 2019 flfl has 349 stores measuring 73 million sq feet retail area it has 48 central stores and 100 brand factory besides 201 exclusive brand outlets ebosit has a diversified portfolio spanning 30 fashion brands both owned and licensed such as lee cooper indigo nation jealous 21 bare among othersit had reported a revenue of rs 537741 crore for fy 201819