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

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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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