Blackstone consolidates distressed securities fund

By Devika Patel

Knoxville, Tenn., Dec. 23 - Blackstone Group announced in a press release that it is making changes to the single manager hedge funds businesses within its marketable alternative asset management segment.

The company is consolidating its distressed securities fund onto a single operating platform with its GSO credit investment business to eliminate duplication, benefit from shared intellectual capital and better serve its investors.

Investors in the Blackstone Distressed Securities Fund will be offered the opportunity to transfer their capital on preferred terms to distressed strategies managed by GSO and the existing fund will be liquidated.

New York's Blackstone is an investment and advisory firm.

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