Saturday, 25 April 2015
Last updated 1 day ago
Dec 14 2007 | 10:24am ET
The Blackstone Group has closed Blackstone Credit Liquidity Partners with capital commitments in excess of $1.3 billion.
The fund was created to capitalize on the recent dislocations in the fixed-income markets by investing in a broad range of debt and debt-related securities and instruments including bank debt, publicly-traded debt securities, bridge financings, securities issued by collateralized debt obligations and other debt instruments, all on a global basis.
A spokesman said the fund operates very much like a private equity fund, with no hedging involved.
Our objective is to generate superior risk-adjusted returns from a combination of current income and capital appreciation,” Hamilton James, Blackstone’s president, said. “With Blackstone’s outstanding track-record in debt and distressed investing, we are confident that we can benefit our new fund’s investors by capitalizing on current conditions in the credit markets.”
Blackstone was assisted in the fundraising by Park Hill Group.
In addition to the new Credit Liquidity fund, Blackstone's corporate debt group manages 11 CDOs and two private investment partnerships in excess of $11 billion.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…