• Sep 01, 2010

    Jitesh Gadhia Joins Blackstone

    New York, September 1, 2010 – The Blackstone Group (NYSE: BX) today announced that Jitesh Gadhia has joined the firm as a Senior Managing Director in its Corporate Advisory Group. Mr Gadhia was most recently Managing Director and Head of Advisory at Barclays Capital. Mr Gadhia will be based in Blackstone’s London office. Commenting on the appointment, John Studzinski, Global Head of Blackstone Advisory Partners said: “We are delighted that someone of Jitesh’s experience and reputation is joining us. Not only does Jitesh bring an extensive track record in UK and Europe, across multiple industry sectors, but he has also been at the forefront of developing cross border activity with emerging markets such as India, which are increasingly important for Blackstone. Jitesh will add to the strength of our existing platform and have the opportunity to develop our advisory presence in new markets”.
  • Aug 18, 2010

    Moser Baer’s Energy Business attracts investment of INR 13.5 Billion from Blackstone

    New York / Mumbai / New Delhi, 18 August, 2010: Moser Baer Projects Private Limited (MBPPL), a developer of power generation facilities with a diverse pipeline of thermal, solar and hydroelectric power projects has attracted an investment of INR 13.5 billion (approximately USD 300 million / INR 1,350 crore) from The Blackstone Group (NYSE: BX). MBPPL has been founded by Deepak Puri & Ratul Puri, who have earlier established Moser Baer India Limited (MBIL), a world class technology manufacturer. MBPPL plans to commission 5,000 MW by 2016 comprising of 4,000 MW of thermal, 500 MW of solar and 500 MW of hydro capacity. Blackstone’s investment will enable MBPPL to emerge as a leading player in the India energy sector over the next few years.
  • Aug 05, 2010

    Dr Robert Galvin to Join Blackstone as CEO of Equity Healthcare

    New York, NY, August 5, 2010 – The Blackstone Group (NYSE: BX) today announced that Dr Robert Galvin had joined the firm as the Chief Executive Officer of Equity Healthcare. Equity Healthcare is Blackstone’s health management program to both improve quality and contain costs in providing health care to the employees and their families of private equity portfolio companies. Currently Equity Healthcare encompasses 34 companies, the combined healthcare spending of which exceeds $2 billion annually.
  • Aug 03, 2010

    John Cashwell and Eric Storch to Join GSO Capital’s Customized Credit Strategies Group

    New York, August 3, 2010 – GSO Capital Partners LP, the credit arm of The Blackstone Group (NYSE: BX), today announced that John Cashwell and Eric Storch have joined GSO as Managing Directors and Co-Heads of Institutional Marketing for GSO’s Customized Credit Strategies Group. They will lead an effort to expand GSO’s already large presence in long-only credit products for institutional investors through both commingled funds and separately managed accounts. Mr Cashwell and Mr Storch join from Seix Investment Advisers.
  • Jul 23, 2010

    Blackstone Announces Second Quarter 2010 Earnings Conference Call for the Media

    New York, June 23, 2010 – The Blackstone Group L.P. (NYSE:BX), announced today that it will host a 9:30 a.m. (EST) conference call for the media on Thursday, July 22, 2010 on its second quarter 2010 earnings results. The conference call can be accessed by dialing +1 800-230-1074 (U.S. domestic) or +1 612-234-9959 (international).
  • Jul 22, 2010

    The Blackstone Group Reports Second Quarter 2010 Results

    Blackstone will host a conference call on July 22, 2010 at 11:00 a.m. ET to discuss second quarter 2010 results. The conference call can be accessed by dialing (888) 713-4209 (U.S. domestic) or +1 (617) 213-4863 (international) pass code 85648246.
  • Jul 13, 2010

    Blackstone / GSO Capital Solutions Fund Closes on Over $3.25 Billion

    New York –July 13, 2010 – GSO Capital Partners LP, the credit business of The Blackstone Group (NYSE: BX), today announced the final closing of the Blackstone / GSO Capital Solutions Fund (“the Fund”) with total commitments of over $3.25 billion. The Fund’s strategy is focused on providing privately negotiated “capital solutions” to companies in need of liquidity or significant capital structure transformation due to pending covenant violations, debt maturities, cyclical downturns in their businesses or other funding requirements. The strategy leverages GSO Capital Partners’ distressed, credit and trading expertise, along with its unique deal origination capabilities. Thus far, the Fund has invested approximately $600 million in seven different companies. Bennett Goodman, Senior Managing Director of The Blackstone Group and Co-Founder of GSO Capital Partners said, “There are many great business franchises facing liquidity issues. We’re delighted to have raised a new fund of this magnitude to assist mid-market companies with their financing needs.”
  • Jul 07, 2010

    John Finley to Join Blackstone as Chief Legal Officer

    New York, July 7th, 2010 – The Blackstone Group (NYSE:BX) today announced that John G. Finley will join the firm as a Senior Managing Director and Chief Legal Officer, effective September 1, 2010. Mr. Finley is currently a partner at the law firm of Simpson Thacher & Bartlett, where he is head of the global mergers and acquisitions group. In becoming Blackstone’s Chief Legal Officer, Mr. Finley will be succeeding Robert L. Friedman, who will continue at Blackstone for a period of time before retiring from the firm. Mr. Finley will serve on Blackstone’s Executive Committee.
  • Jul 07, 2010

    Blackstone France Announces the Appointment of Nicolas Hubert as Managing Director

    Paris, 07 July 2010 – The Blackstone Group (NYSE:BX) announced today the appointment of Nicolas Hubert to the position of Managing Director in its Financial Advisory business. With 12 years of experience, Nicolas Hubert will strengthen the ten-strong team headed by Jean-Michel Steg in Paris.
  • Jul 06, 2010

    Bear Tracker Energy, LLC Announces $200 Million Equity Commitment from GSO Capital Partners LP and Company Management

    DENVER, July 6, 2010 – Bear Tracker Energy, LLC, a midstream oil and natural gas company formed in 2009 by industry veteran Robert J. Clark, announced today that funds managed by GSO Capital Partners LP, a division of The Blackstone Group L.P. (NYSE: BX), along with Bear Tracker’s existing management, are committing up to $200 million in equity capital to pursue the development of North American midstream assets.
  • Jun 23, 2010

    Blackstone Announces Second Quarter 2010 Earnings Conference Call

    New York, June 23, 2010: The Blackstone Group L.P. (NYSE:BX), announced today that it will host its second quarter 2010 investor conference call Thursday, July 22, 2010 at 11:00 am ET. Stephen Schwarzman, Chairman and Chief Executive Officer; Tony James, President and Chief Operating Officer; Laurence Tosi, Chief Financial Officer; and Joan Solotar, Senior Managing Director – Public Markets, will review The Blackstone Group L.P.’s second quarter 2010 earnings. The conference call can be accessed by dialing (888) 713-4209 (U.S. domestic) or +1 (617) 213.4863 (international) pass code 85648246.
  • Jun 16, 2010

    Arthur Higgins Joins Blackstone’s Healthcare Team

    New York, June 15, 2010 – The Blackstone Group (NYSE: BX) today announced that Arthur J. Higgins, former Chairman of the Board of Management of Bayer HealthCare AG, has joined the firm’s dedicated healthcare group, Blackstone Healthcare Partners. At Blackstone, Mr. Higgins will join health care veterans Lodewijk de Vink and Doug Rogers in providing industry knowledge and expertise to private equity transactions. Blackstone Healthcare Partners is an integral part of the firm’s global effort in sourcing, analyzing and overseeing investments in pharmaceuticals and medical products. Blackstone Healthcare Group’s investments include Nycomed, Gerresheimer, Stiefel Laboratories, and Catalent.
  • May 27, 2010

    Blackstone Introduces Blackstone / GSO Senior Floating Rate Term Fund

    New York, May 27, 2010 – The Blackstone Group L.P. (NYSE: BX), one of the world’s leading investment and advisory firms, today announced the successful completion of the initial public offering of Blackstone / GSO Senior Floating Rate Term Fund (the “Fund”). The Fund’s primary investment objective is to seek high current income with a secondary objective of preservation of capital, consistent with its primary goal of high current income. The Fund began trading on the New York Stock Exchange (NYSE) yesterday under the symbol “BSL”.
  • May 27, 2010

    Summit Materials Announces a Majority Investment in Continental Cement

    May 27, 2010 – Summit Materials LLC (“Summit”), a heavy building materials company, today announced a majority investment in Continental Cement Company (“Continental”). Continental’s new state of the art cement manufacturing and waste processing facilities are located in Hannibal, Missouri, 100 miles north of St Louis. With distribution terminals in St Louis, Missouri and Bettendorf, Iowa, Continental supplies cement to customers in Missouri, Iowa and Illinois. Cement has been manufactured at the Hannibal site since 1903. Continental’s long history of manufacturing high quality product, providing exceptional customer service and strategic location on the Mississippi River complements Summit’s growing heavy materials business in the Midwest. Continental’s management team, led by Mike Johnson, CEO and Tom Beck, Senior Vice President will remain in place.
  • Apr 30, 2010

    The Blackstone Charitable Foundation Invests $50 Million to Support Entrepreneurship Globally

    DETROIT, April 30, 2010 – The Blackstone Charitable Foundation announced today a five-year, $50 million commitment to foster entrepreneurship and economic recovery in communities hardest hit by the global economic crisis. The Blackstone Entrepreneurship Initiative will support innovative programs and ideas with potential for fostering entrepreneurship and, in turn, the high-growth businesses and industries that are most known to spark economic growth.
  • Apr 22, 2010

    The Blackstone Group Reports First Quarter 2010 Results

    Blackstone will host a conference call on April 22, 2010 at 11:00 a.m. ET to discuss first quarter 2010 results. The conference call can be accessed by dialing (888) 680-0892 (U.S. domestic) or +1 (617) 213-4858 (international) pass code 92163618.
  • Apr 19, 2010

    Summit Materials Announces Acquisition of Kansas Heavy Materials Company

    April 19, 2010 – Summit Materials LLC, a building materials company, today announced that it has concluded the acquisition of Cornejo & Sons, Inc. based in Wichita, Kansas. Cornejo & Sons, formed in 1952 by Jess Cornejo engages in the production of sand and gravel, asphalt and ready mix concrete, as well as paving, construction, recycling and C&D landfill services. Cornejo & Sons’ long history of providing exceptional products and services and strategic location complements Summit’s growing heavy materials business. The Cornejo & Sons management team will remain in place.
  • Apr 19, 2010

    Governor Deval Patrick and Mayor Thomas M. Menino Launch MassChallenge - World’s Largest Global Startup Competition

    Boston - April 14, 2010 - Today, Governor Deval Patrick and Mayor Thomas M. Menino joined John Harthorne, David Constantine and Akhil Nigam, the founders of MassChallenge, to launch the world’s largest global startup competition. The competition will accelerate the development and success of high-growth, high-impact new businesses, while stimulating job creation across the Commonwealth and beyond.
  • Apr 08, 2010

    Hilton Worldwide Completes Restructuring of Existing Debt

    MCLEAN, Va., April 8, 2010 – Hilton Worldwide announced today that it has completed a restructuring of substantially all of its existing debt. The restructuring extends the maturity of this debt until November 2015 and reduces the company’s total debt by nearly $4 billion. The transaction was effected through the purchase and retirement of $1.8 billion of debt and the conversion of $2.1 billion of junior mezzanine debt to preferred equity.
  • Apr 07, 2010

    Blackstone to Invest INR 225 Cr in Jagran Media Network

    New York / Kanpur, 7 April, 2010: The Blackstone Group (NYSE: BX), announced today that it will be investing INR 2250 million in Jagran Media Network Private Limited, which will hold majority share of Jagran Prakashan Limited (“JPL”). JPL (NSE: JAGRAN.NS, BSE: JAGRAN.BO) is India’s leading media and communications group, with the group’s flagship brand, Dainik Jagran, being the most widely read newspaper in the world with a total readership of 54.6 million. Jagran Media Network Private Limited will file for necessary approvals for the investment with the Foreign Investment Provision Board (FIPB) today.