Blackstone Ends Four-Year Drought By Making New Investments In Europe


That follows four years of sitting on the sidelines out of concern over the stability of the euro and other financial woes in Europe, said Blackstone President Tony James during a conference call discussing 2011 results.


“Europe represents very interesting opportunity – actually, the most interesting opportunity [among all geographies] in the coming year,” said James, according to a Wall Street Journal report.


James cited the lack of competition in terms of pricing, as many investors continue to avoid companies in Europe’s most distressed regions.


Blackstone’s announcement could signal a rush by private equity firms to invest in European distressed assets while many investors continue to stay away, convinced the worst is yet to come in the region.

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