Blackstone invests in Leonard Green & Partners: Bloomberg

Blackstone Group has taken a minority stake in Leonard Green & Partners, Bloomberg is reporting. Blackstone has been in discussions with Green for more than a year and will own less than 15 percent of the PE firm, the story said. Blackstone is doing the deal out of its Blackstone Strategic Capital Holdings, a $3.3 billion pool that it uses to buy stakes of alternative asset managers, the story said. The fund has invested in hedge funds such as Marathon Asset Management, Solus Alternative Asset Management and Senator Investment Group. A Blackstone spokesman, in an email, confirmed the investment in Leonard Green.