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.

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Comments (5)
  • jdl51
    , contributor
    Comments (270) | 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 (2836) | 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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