Blackstone Beefs Up Distressed Debt Group

The Blackstone Group has hired Joseph Russick to serve as a principal in the firm's distressed debt hedge fund group. Russick's appointment is an addition to the team, which was established in July.

Russick was previously a vice president at Bennett Restructuring Funds, a billion dollar hedge fund, where he specialized in public and private investments focused on the distressed debt of companies in or near bankruptcy.