Seeking Alpha

Shut out originally, Blackstone makes fortune from Energy Future collapse

  • Through its GSO Capital Partners, Blackstone (BX) has already realized more than $100M in profits trading the debt of TXU Corp, i.e., Energy Future, and the P-E firm stands to make even more when its holdings get converted to equity under the utility's restructuring plan. Additionally, Blackstone bankers are chalking up fees advising other P-E firms which own stakes in Energy Future.
  • In 2007, Blackstone was less than pleased at not being invited to consider being part of the takeover group, which included rivals KKR, TPG, and Goldman Sachs Capital Partners.
Comments (5)
  • jdl51
    , contributor
    Comments (268) | Send Message
     
    They dodged a bullet on that one.
    1 May 2014, 09:02 AM Reply Like
  • lflescher
    , contributor
    Comments (6) | Send Message
     
    aa great buy right now.
    1 May 2014, 09:52 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2829) | Send Message
     
    BX smartest men in the room, all the time.
    1 May 2014, 10:53 AM Reply Like
  • Shabbasgoy
    , contributor
    Comments (4) | Send Message
     
    Once again, how is it, BX, which is at least three times the company it was in '07, still trading at $29? Don't get it.
    2 May 2014, 05:17 AM Reply Like
  • tmurph48
    , contributor
    Comments (3) | Send Message
     
    By itself, a Buy. But, if we enter an ebb tide ... So, timing on violative stocks is crucial. I'm currently,concerned about a tide that may be sensitive to the realities of housing and unpromising top lines being posted currently. On hold.
    2 May 2014, 11:00 AM Reply Like
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