Blackstone Establishes Cleantech Energy Group.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 -- The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, (NYSE NYSE See: New York Stock Exchange : BX) today announced the establishment of a new business group that will be focused on investments in the cleantech energy sector and will also provide advice on renewable energy strategies across Blackstone's diverse asset base. The team is being led by James D. Kiggen, who has joined the firm's Corporate Private Equity group as a Senior Managing Director. Prior to joining Blackstone, Mr. Kiggen was a Senior Vice President at AllianceBernstein L.P where he created and managed a research team focused on emerging sciences and technologies. He extended that research effort into building a late-stage venture capital/growth equity business, investing in innovative cleantech companies such as A123Systems, Powerspan and Targeted Growth. Previously he was a Managing Director at Donaldson, Lufkin & Jenrette and then CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank , where he was a top-ranked equities analyst covering public and private technology companies. He was also a consultant at McKinsey & Co. Also joining as Principals from AllianceBernstein are Walter C. Vester and Richard L. Troyer. Mr. Vester has seven years' operating experience in communication and energy technology companies and was a project leader at the Boston Consulting Group. Mr. Troyer was a sell-side research analyst in biotechnology at Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. and Piper Jaffray and a consultant at Marakon Associates. Tony James, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of The Blackstone Group, said, "This team's experience and record of investment success will position us as a leading investor in the cleantech space and will provide a valuable resource for our other business groups advising on the introduction of sustainable energy strategies. Jamie, Walt and Rich are a great team and we are excited to welcome them to our platform." Garrett Moran, Senior Managing Director of The Blackstone Group, added: "Jamie and his team's understanding of rapidly evolving technology applications in solar and wind power generation, carbon sequestration sequestration In law, a writ authorizing a law-enforcement official to take into custody the property of a defendant in order to enforce a judgment or to preserve the property until a judgment is rendered. , next generation ethanol, and other renewables will be a key input in Blackstone's investment decisions. We look forward to working with the new team across both conventional energy investments and new developments, including those at our portfolio company Sithe Global Power, as well as several other sizeable investments that we are currently evaluating." About The Blackstone Group Blackstone is one of the world's leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of corporate private equity funds, real estate funds, hedge funds, funds of funds, debt funds, collateralized loan obligation Collateralized loan obligation (CLO) A security backed by a pool of commercial or personal loans , structured so that there are several classes of bondholders with varying maturities, called tranches. Similar in structure to Collateralized Mortgage Obligations. vehicles (CLOs) and closed-end mutual funds. The Blackstone Group also provides various financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement service. Further information is available at www.blackstone.com. |
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