Wednesday, April 7, 2010 as of 11:14 AM ET
The Blackstone Group L.P. () is an American-based alternative asset management and financial services company that specializes in private equity, real estate, and credit and marketable alternative investment strategies, as well as financial advisory services, such as mergers and acquisitions (M&A), restructurings and reorganizations, and private placements.
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P. Morgan Chase & Co. (JPM) plans to sell $159.5 million of commercial mortgage-backed securities supported by distressed hotel loans next week in the second deal aimed at the rapid resolution of bubble-era real estate assets, according to a term sheet sent to investors.The CMBS to help fund loan acquisitions by units of Square Mile Capital and the Blackstone Group follows a $132 million deal in March, which helped fund the purchase of troubled debt for Rialto Capital Management.The CMBS are similar to securities used to dispose of troubled assets after the savings-and-loan crisis. Beginning in 1992, the Resolution Trust Corp. began selling pools of bad debt carved up into bonds that helped the real estate rebound by clearing bank balance sheets.Several real estate funds have expressed interest using the CMBS model developed by J.P. Morgan to make a play for troubled assets held by the Federal Deposit Insurance Corp. and other institutions. The Square Mile-Blackstone CMBS will fund a...
Former Bain Capital Managing Director Ed Conard on the president’s attacks of Mitt Romney as a businessman.
Blackstone (NYSE:BX) has inked a deal to buy the underperforming Motel 6 chain from Accor for $1.9 billion as the French hotel company continues to cut debt and turn...
“Unintended Consequences” author Ed Conard on the Obama campaign’s portrayal of Romney and Bain Capital.
Hutchison Whampoa Ltd. (0013.HK), the ports-to-telecom operator owned by Hong Kong billionaire Li Ka-shing, has lost a motion in an Irish court to have its EUR2 bill...
Hutchison Whampoa Ltd. (0013.HK), the ports-to-telecom operator owned by Hong Kong billionaire Li Ka-shing, has lost a motion in an Irish court to have its EUR2 bill...
FBN’s John Stossel on the firing of Naomi Schaefer Riley over her criticism of Black Studies dissertations.
Clayton Dubilier & Rice and Bain Capital haven't made it through to the second round of the auction for frozen-food company Iglo Group, a person familiar with the si...
A Blackstone Group LP (BX) property loan has received what "may be one of the more questionable [loan] modifications to date" by getting rosy financing terms at the ...
Democratic strategist Doug Schoen on the financial sector’s backing of the president.
Charoen Pokphand Foods PCL (CPF.TH) hasn't submitted a bid for U.K. company Birds Eye Ltd., the Thai company said in a filing to the Stock Exchange of Thailand.Charo...
A handful of private-equity firms will submit first-round bids for frozen-food company Iglo Group by Thursday's deadline, people familiar with the situation told Dow...
Apollo Global Management LLC (APO) posted a better than expected 23% rise in first-quarter earnings, driven by an increase in management fees and robust growth in in...
J.P. Morgan Chase & Co. (JPM) plans to sell $159.5 million of commercial mortgage-backed securities supported by distressed hotel loans as soon as next week, accordi...
Former Gov. Tim Pawlenty, (R-Minn.), argues Romney is more capable of handling the economy than Obama.
Patriot Coal Corp. (PCX) said its refinancing plans are continuing and confirmed it is working with private-equity firm Blackstone Group LP (BX) on the effort.The sh...
Patriot Coal shares fell 29% to $2.39 in recent action, recovering from deeper losses prior to trading halts on Tuesday afternoon. The company said it entered into a...
FBN's Diane Macedo breaks down afternoon market news.
Patriot Coal Corp. (PCX) has fielded formal pitches from restructuring advisers in the event the company can't satisfy its near-term financing needs, Debtwire report...
Wayne Rogers & Co. chairman Wayne Rogers weighs in on the Democrats' latest attack on Mitt Romney and Bain Capital.
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