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Low Oil Prices Mean New Projects for Blackstone

Blackstone is devoting $10 billion to energy-related projects


Falling oil prices are keeping Blackstone busy with new opportunities.

Tim Coleman of Blackstone told Bloomberg, “You can’t have your price (oil prices) drop 50% and not have issues. We are probably looking at 80 names that are, in some form or another, struggling. We have a lot of new assignments, on the debtor side and on the creditor side.”

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Blackstone has opportunities to lend to troubled oil companies, buy out others or affect restructuring. President Tony James said Blackstone is investing $10 billion into energy projects. Recently Tony James sold 2 million shares of Blackstone at average prices between $37.93 and $38.67 just before the company’s shares reached a record high of $39.62, according to Bloomberg.

James was recruited by founder Stephen Schwartzman in 2002, and has been selling shares in recent years; in 2013, James sold 8.25 million. James says he isn’t considering leaving the company.

Blackstone is also selling AlliedBarton Security for an estimated $1.5 billion, Reuters reports. The firm has hired Credit Suisse to run an auction for AlliedBarton. An AlliedBarton representative told Reuters, “Management believes it is time to seek a new private equity sponsor. We have recently launched that process as it is critical to our ongoing growth strategy.”




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