Blackstone, Others Chase Mom And Pop With Listed Funds

Law360, New York (September 27, 2012, 9:18 PM EDT) -- The Blackstone Group LP's $960 million publicly traded credit fund, which debuted Wednesday, shows a private equity industry that continues to expand from its "Barbarians at the Gates" leveraged buyout roots into diversified asset managers with a little something for everyone — even mom-and-pop investors.

The Blackstone/GSO Strategic Credit Fund, trading on the New York Stock Exchange, will target noninvestment-grade corporate debt. For about $20 per unit, retail investors can buy themselves a slice of Blackstone's $51 billion credit empire — a business that, until recently,...
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