Blackstone raises $5 billion for its 2nd fundStaff writer ▼ | September 4, 2013
Blackstone Group's first fund raised more than $3.25 billion in 2010. Unlike banks that often rely on their balance sheets for proprietary trading and investing, Blackstone and other alternative asset managers have at their disposal long-dated capital they have raised from pension funds, insurance firms and other institutional investors.
GSO has deployed to date more than $4 billion in lending to distressed companies facing liquidity issues, with a focus on North America and Western Europe, Blackstone said.
Credit assets accounted for $62.2 billion of Blackstone's total assets under management of $229.6 billion as of the end of June. Real estate accounted for $63.9 billion, private equity for $53.3 billion and hedge fund assets for $50.1 billion. ■