Profile: Blackstone Group LP (BX.N)
The Blackstone Group L.P. (Blackstone), incorporated on March 12, 2007, is a global alternative asset manager and provider of financial advisory services. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and multi-asset class exposures falling outside of other funds’ mandates. The Company also provides a range of financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory, capital markets and fund placement services. The Company operates in five segments: Private Equity, Real Estate, Hedge Fund Solutions, Credit and Financial Advisory.
The Company’s Private Equity segment focuses on identifying, managing and creating lasting value for its investors. Its Private Equity segment includes corporate private equity funds; tactical opportunities business, which pursues a global multi-asset class approach to investing in illiquid assets focused on timely opportunities that fall outside the Company’s other alternative fund strategies; strategic partners, which is the Company’s secondary private fund of funds business, and Blackstone Total Alternatives Solution (BTAS), which is an investment program for eligible high net worth investors. The Company has raised six general private equity funds, as well as three specialized funds focusing on energy and communications-related investments. The Company invests from its sixth general private equity fund, Blackstone Capital Partners VI (BCP VI) and its energy fund, Blackstone Energy Partners (BEP).
The Company manages a number of global, European and Asian focused opportunistic real estate funds, several real estate debt investment funds, a publicly traded real estate investment trust (BXMT) and core + real estate investments. Its real estate opportunity funds are diversified geographically and have made investments in lodging, office buildings, shopping centers, residential and a variety of real estate operating companies. Its debt investment funds target high yield real estate debt related investment opportunities in the public and private markets in the United States and Europe. The Company’s core + funds target stabilized office, multifamily, industrial and retail assets across the world. The Company refers to its real estate opportunistic funds as Blackstone Real Estate Partners (BREP) funds, its real estate debt investment funds as Blackstone Real Estate Debt Strategies (BREDS) funds and its core+ investment funds as Blackstone Property Partners (BPP) funds.
Hedge Fund Solutions
The Company’s Hedge Fund Solutions group is comprised of Blackstone Alternative Asset Management (BAAM). It manages a range of commingled funds of hedge funds and customized vehicles. BAAM’s businesses also include hedge fund seed, long-only, special situations and advisory platforms. BAAM also has a public funds platform.
The Company’s credit business is comprised of GSO Capital Partners LP (GSO). It is a participant in the leveraged finance markets. The funds the Company manages or sub-advises include senior credit-focused funds, distressed debt funds, mezzanine funds and general credit-focused funds concentrated in the leveraged finance marketplace. GSO also manages separately managed accounts and registered investment companies, including business development companies. These vehicles have investment portfolios comprised of loans and securities spread across the capital structure, including senior debt, subordinated debt, preferred stock and common equity. GSO utilizes leverage in connection with the investments that the credit-focused funds, separately managed accounts or registered investment companies make. As of December 31, 2014, GSO managed 45 separate CLOs, which are focused on senior secured debt issued by a diverse universe of non-investment grade companies.
The Company’s Financial Advisory segment comprises of its financial and strategic advisory services, restructuring and reorganization advisory services, capital markets services and Park Hill Group, which provides fund placement services for alternative investment funds. Its financial advisory businesses are global businesses with approximately 260 professionals around the world. Blackstone Advisory Partners is an independent provider of solutions to institutional clients around the globe. It focuses on a range of transaction execution capabilities, such as with respect to acquisitions, mergers, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements and distressed sales. The Company’s clients include Advance Auto Parts, Aviva plc, Dubai World, Essar Steel, Georgia-Pacific, Market Basket, New World Resources, Noble Group, NYSE Euronext, Oerlikon, Punch Taverns, RockTenn, Sapient and W.R. Grace, among others.
The Company’s restructuring and reorganization group is an adviser in both out-of-court restructurings and in-court bankruptcies. It’s restructuring and reorganization team advises companies, creditors, corporate parents, hedge funds, financial sponsors and acquirers of troubled companies. This group is active in large, complex and high-profile deals. Its clients include Airwave, Essar Steel Algoma, Genco, IVG creditors, MBIA regarding Detroit, New World Resources, OGX, Punch Taverns, Specialty Products Holding Corp., Tragus, Travelport and W.R. Grace.
Park Hill Group provides fund placement services for private equity funds, real estate funds, venture capital funds and hedge funds. Park Hill Group provides placement services to unrelated third party sponsored funds. It also assists in raising capital for the Company’s own investment funds and provides insights into alternative asset products and trends.
Blackstone Group LP
345 Park Ave
NEW YORK NY 10154-0004