Blackstone's Corporate Debt Group Establishes European Presence.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & LONDON -- Blackstone today announced that Debra Anderson will join the firm as a Managing Director to establish Blackstone's presence as a manager of non-investment grade assets issued by companies throughout Europe. Ms. Anderson will join Blackstone's Corporate Debt Group which was established in 1998 and has grown to nearly $5.0 billion in commitments and assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . Howard Gellis, head of Blackstone's Corporate Debt Group, said, "Based on the successes of Blackstone's private equity and real estate businesses in Europe, and our own assessment of the growing institutionalization Institutionalization The gradual domination of financial markets by institutional investors, as opposed to individual investors. This process has occurred throughout the industrialized world. of the European debt market, we've been preparing to enter that market for years. The key for us was finding the absolute best candidate to represent Blackstone, a leader that can build a business with scale. Debra's credit-based approach toward investing is in line with the way we run all our investment activities and her reputation and support within the market is outstanding." Ms. Anderson has been an active investor in the European leveraged loan market for the past 12 years. Latterly she was the leveraged loan portfolio manager for Intermediate Capital Group Plc where she was responsible for four European CDOs totaling EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.4 billion in loan assets. Prior to that she established and ran an acquisition finance lending business for a major European bank. Blackstone's Corporate Debt group currently manages five CDOs, with approximately $3 billion of assets and a mezzanine fund A mezzanine fund is a type of private equity or merchant banking fund. A typical mezzanine investment consists of a debt or debt-like instrument, paired with an equity “sweetener. which is currently investing in excess of $1 billion of commitments. About The Blackstone Group The Blackstone Group, a private investment and advisory firm with offices in New York, Atlanta, Boston, Los Angeles, London, Hamburg, Mumbai, and Paris, was founded in 1985. Blackstone's Corporate Debt Group is currently investing its first mezzanine fund, which has commitments in excess of $1.1 billion, and has six CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the vehicles with total assets of approximately $3.5 billion. In addition to Corporate Debt investing, The Blackstone Group's core businesses are Private Equity Investing, Private Real Estate Investing Real estate investing involves the purchase of real estate for profit. Profits are accumulated slowly by renting out properties in a cashflow method, or are generally improved and resold for a capital gain. , Marketable Alternative Asset Management, Corporate Advisory, and Restructuring and Reorganization Advisory. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion