May 14, 2019 / 2:09 PM / 10 days ago

Blackstone says - We still like the UK but Brexit hurting growth

FILE PHOTO: Jonathan Gray, global head of real estate at Blackstone Group arrives for a meeting with U.S. President-elect Donald Trump at Trump National Golf Club in Bedminster, New Jersey, U.S., November 20, 2016. REUTERS/Mike Segar

LONDON (Reuters) - Blackstone, one of the world’s biggest private equity investors, said on Tuesday it still liked the United Kingdom as a long term prospect because assets were attractively priced even though Brexit had hurt economic growth.

“We still like the UK as a place to invest long term,” Blackstone President Jonathan Gray told a Wall Street Journal conference in London. “Long term we have a positive view on the UK.”

“We do see however that Brexit has slowed growth,” he said. “You lower your expectations for what’s going to happen economically but then you look again at what’s the price that I have to pay for this.”

“The UK is still going to be a major economy, it’ll grow more slowly and I don’t have to necessarily pay the same price as before, the currency is cheaper than it was,” Gray said.

Reporting by Guy Faulconbridge; editing by Andrew MacAskilli

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