Happy Pride month to everyone! Except the landlords and asset managers bleeding dry queer culture

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Asset managers are hoovering up Britain’s LGBTQ+ venues, with potentially disastrous consequences for the gay scene, says senior data analyst Adam Almeida

Heaven was described by novelist Neil Bartlett as ‘the first room I ever walked into that contained a thousand other gay people’.Heaven was described by novelist Neil Bartlett as ‘the first room I ever walked into that contained a thousand other gay people’.a few months before and I made plans to meet up with my friend Anna, the only other person I knew in the city. She brought a friend along, and the three of us went for dinner in Soho.

Heaven was once described by novelist Neil Bartlett as “the first room I ever walked into that contained a thousand other gay people”. Opened in the railway arches under Charing Cross station in 1979, it has weathered the Aids crisis, the chilling effects of Section 28 and has staved off closure while 60% of London’s LGBTQ+ nightclubsBut Heaven’s days might now be numbered.

Blackstone is the world’s largest “alternative” asset manager, which mainly invests beyond the confines of securities listed on stock exchanges: in property, private equity, infrastructure, private debt and venture capital.stretching across the continental US. Blackstone even owns Supergoop!, a sunscreen staple of skincare influencers on TikTok, and the group is currently, a company that owns the rights to the music catalogues of Beyoncé, Shakira and Nelly Furtado.

especially pernicious. People who run these institutions would say that when they acquire assets such as nightclubs, they are increasing efficiencies to make them more profitable. In reality, what we tend to see are workers facing lay-offs, company debt reaching untenable levels and services cut to the bone. After all, these firms are designed to deliver returns to investors, not to ensure a fun night out.

 

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