Blackstone Unveils $960M Traded Credit Fund

Law360, New York (September 26, 2012, 7:44 PM EDT) -- New York-based Blackstone Group LP on Wednesday debuted a $960 million publicly traded mutual fund that will invest in high-yield corporate debt, the latest in an ever-broadening array of financial products from the world's biggest listed asset manager.

The Blackstone/GSO Strategic Credit Fund raised $834.8 million in an initial public offering, which could turn into $960 million if the underwriters — led by Morgan Stanley & Co. Inc., Citigroup Inc., Bank of America Merrill Lynch, UBS Investment Bank, and Wells Fargo Securities LLC — exercise their...
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