Blackstone launches $1.3 billion credit fund

By Devika Patel

Knoxville, Tenn., Dec. 13 - Blackstone Group announced it has closed on Blackstone Credit Liquidity Partners LP, a $1.3 billion credit fund.

The fund was created to capitalize on the recent dislocations in the credit markets by investing in a broad range of debt, debt-related securities and debt instruments.

"Our objective is to generate superior risk-adjusted returns from a combination of current income and capital appreciation. With Blackstone's outstanding track-record in debt and distressed investing, we are confident that we can benefit our new fund's investors by capitalizing on current conditions in the credit markets," Blackstone's president Hamilton James said in a press release.

Blackstone was assisted in the fundraising by Park Hill Group.

Blackstone is a New York-based global alternative asset manager and provider of financial advisory services.

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