Blackstone Subprime Investment Partnership Underway

Jul 25 2008 | 12:20pm ET

The Blackstone Group has teamed up with a Florida mortgage servicer to make its subprime investment plan a reality.

The private equity giant has set aside some $1.25 billion to buy troubled loans in partnership with Coral Gables-based Bayview Financial, the New York Post reports. Under the deal, Bayview will find the distressed loans and renegotiate their terms, allowing Blackstone to securitize them.

Bayview has already used some 40% of Blackstone’s capital, the Post says.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.