Blackstone Closes $1.3B Credit Liquidity Fund

The Blackstone Group has closed Blackstone Credit Liquidity Partners L.P. with capital commitments in excess of $1.3 billion. The fund was created to capitalize on the recent dislocations in the credit markets by investing in a broad range of debt and debt-related securities and instruments including bank debt, publicly traded debt securities, bridge financings, securities issued by CDOs, and other debt instruments. Blackstone was assisted in the fundraising by Park Hill Group.