Blackstone related stories
All articles and analysis
The hand that feedsShould private equity houses buy LBO debt, particularly in companies in which they own equity? Eversheds’ Mark Spinner discusses the trend.
- Appealing to LPs
Fortress' and Blackstone’s second quarter earnings results offer a glimpse into how firms are responding to a slowing fundraising pace, writes Matt Levin.
- Cinven takes a slice of European debt boutique
The London-based private equity firm has diversified its buyout business with the purchase of 50 percent stake in Indicus Advisers.
- Snow Phipps buys chemical company from GSO
The mid-market firm’s debut $620m fund is now 60 percent invested following the purchase of ArrMaz Custom Chemicals, which has now had three alternative investment fund sponsors.
- Chrysler financing falls $6bn short
Chrysler Financial, the lender Cerberus purchased alongside its corresponding auto unit last July, fell $6bn short of its $30bn target while renewing its credit facilities. The lender’s credit rating was reduced to B- last week on news of the company exiting consumer leasing.
- Fortress holds $500m first close on sixth buyout fund
The publicly listed investment firm also disclosed in its second quarter earnings call that it is nearing its $2.5bn target on a private equity-style credit fund – yet its fundraising pace has dropped more than 70 percent compared to the same period last year.
- Blackstone’s GSO closes $2bn mezzanine fund
The private equity firm’s credit subsidiary, GSO Capital Partners, has closed its most recent mezzanine fund as demand for subordinated debt remains strong. The unit has also raised four CLOs and purchased $7.8bn in leveraged loans.
- $6bn Penn National takeover collapses
Casino operator Penn National will receive $225m in cash and $1.25bn in preferred shares after the Fortress- and Centerbridge-led deal was terminated. Penn said a ‘re-negotiated, reduced purchase price was not a viable option.’
- Investment banking revenue from private equity down 68%
Fees generated from private equity-sponsored buyouts and other transactions are at their lowest level since 2003; First Reserve replaces Blackstone as the top revenue source for investment banks.
- Hicks SPAC leads $3.2bn reverse IPO
Graham Packaging, owned by private equity firms Blackstone and Graham Group, has been selected as a takeover target after the Tom Hicks-run SPAC reviewed more than 100 potential deals and tapped into its founder’s relationships with buyout firms.