Blackstone Closes EUR 400 Million CLO



    LONDON & NEW YORK, December 6 /CNW/ - The Blackstone Group (NYSE:   BX),
today announced the closing of St James's Park CDO B.V. ("St. James's Park"),
the fourth European collateralised loan obligation (CLO) fund to be managed by
Blackstone Debt Advisors L.P. ("BDA"), an affiliate of The Blackstone Group.
The St. James's Park vehicle is a EUR 400 million ($590 million) CLO, which
has a dynamically-managed portfolio, comprised primarily of senior secured
loans of European issuers and, to a lesser extent, second lien loans,
unsecured loans, mezzanine loans and high yield bonds.

    BDA extended its U.S. leveraged loan franchise into Europe by
establishing a London presence in 2005 and, inclusive of St. James's Park,
currently manages four CDOs comprised primarily of Euro-denominated assets
with aggregate assets of approximately EUR 2 billion. In addition to its
investment team, BDA has access to professionals throughout Blackstone
allowing it to benefit from the firm's intellectual capital across its other
business groups, thereby providing it with high-level access to management
teams, industry leaders and the investment banking community. BDA is one of
the principal entities which form Blackstone's Corporate Debt Group. This
group currently manages 11 CDOs and two private investment partnerships with
aggregate capital commitments of approximately $9.7 billion. They include
seven US CDOs ($4.7 billion), four European CDOs ($2.9 billion) and two
Private Investment Partnerships ($2.1 billion).

    Debra Anderson, portfolio manager and managing director with Blackstone's
Corporate Debt Group in London, said "The St. James's Park CLO was priced and
distributed during difficult market conditions. It is a testament to
Blackstone's commitment to the European leveraged loan market and to
Blackstone's ability to execute transactions at market-leading levels."

    Citigroup Global Markets Ltd was sole arranger and book-runner for the
transaction.

    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
http://www.blackstone.com




For further information:

For further information: The Blackstone Group European Corporate
Communications Sophia Harrison, +44 (0) 20 7451 4295 harrison@blackstone.com
or US Corporate Communications John Ford, +1-212-583-5559 ford@blackstone.com

Organization Profile

THE BLACKSTONE GROUP

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890