Blackstone investor day: Rooting for a correction

An existing client of Blackstone's (BX -0.9%) GSO credit business is seeking $1B in financing for an acquisition that will make it a "global player" in its industry, says unit chief Bennet Goodman, speaking at Blackstone's investor day.

Webcast and presentation slides

GSO had $66B in AUM as of the end of Q1, a near triple from $22.4B when Blackstone purchased the business at year-end 2008.

As for markets in general, Goodman says rising values are limiting opportunities for investing in distressed debt. "We would describe the public markets for high-yield bonds as frothy ... We are definitely rooting for a correction, a recalibration of risk."

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs