Blackstone Closes New Credit Liquidity Fund on $1.3 Billion
New York; December 13, 2007: (NYSE:BX) The Blackstone Group today announced the closing
of Blackstone Credit Liquidity Partners L.P. (BCLP) with capital commitments in excess of $1.3
billion.
The fund was created to capitalize on the recent dislocations in the credit 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 CDOs, and other debt instruments,
all on a global basis.
Hamilton (Tony) James, President of The Blackstone Group, said; "Our objective is to generate
superior risk-adjusted returns from a combination of current income and capital appreciation.
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."
In addition to this new Credit Liquidity fund, Blackstone's corporate debt group manages 11
CDOs and two private investment partnerships. These various vehicles, including BCLP, have
aggregate capital commitments of over $11 billion. They include seven US CDOs ($4.7 billion),
four European CDOs ($2.9 billion) and two private mezzanine funds ($2.1 billion).
Blackstone was assisted in the fundraising by Park Hill Group.
Contact:
John Ford
The Blackstone Group
+1 212 583 5559
ford@blackstone.com
The Blackstone Group
The Blackstone Group is a leading global alternative asset manager and provider of financial
advisory services. Its alternative asset management businesses include the management of
corporate private equity funds, real estate opportunity funds, funds of hedge funds, mezzanine
funds, senior debt funds, proprietary hedge funds and closed-end mutual funds. The Blackstone
Group also provides various financial advisory services, including mergers and acquisitions
advisory, restructuring and reorganization advisory and fund placement service. Further
information is available at www.blackstone.com.
Additional information about Blackstone Group:
View the corporate website for the Blackstone Group.
Read about the Blackstone Group's history, including its founding by Senior Chairman Peter Peterson and CEO and Chairman Stephen Schwarzman.
Read the press release where the Blackstone Group files for $4 billion IPO.
View career information about the Blackstone Group from Vault.
View the firm profile for the Blackstone Group, including investor relations and CEO and Chairman Stephen Schwarzman.
View a news article at Dow Jones LBO Newswire about Blackstone and Michael's Craft Store.
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