Look at Blackstone, some CLO’s are still pricing and trading
Posted by: in Financials and AnalyticalsFiled under: Deals, The Blackstone Group, Financials and analyticals, Private equity industry, Investments, Value and lack thereof
The Blackstone Group L P (NYSE:BX) has announced the closing of three newly created collateralized loan obligation funds totaling $1.3 billion. Those CLO’s are trading again. These were all created over the past month, and these are just the CLO’s that Blackstone participated in.
In March, Blackstone merged its existing CLO group with the team from its newly acquired GSO Capital Partners. This 35 person CLO team has offices in New York and London. The combined CLO group now manages $14 billion across 26 funds in the US and Europe.
This shows a breakdown in the actual amount per CLO, compares it to Q1 and to 2007, and it even puts the lower volume blame now on the lack of AAA rated part needed for each CLO.
Interestingly enough, Blackstone shares are up almost 50% from their post-IPO lows.
Continue reading the full story and spot analysis at 247WallSt.com.
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