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The Blackstone Group L.P. Message Board

  • sam_0534 sam_0534 Dec 11, 2013 2:13 PM Flag

    All I see is good news for BX..

    Blackstone Group LP co-founder Steve Schwarzman said his firm sold most long-dated fixed-rate investments and moved to floating-rate investments as interest rates start to rise.

    “We exited almost all of our long-duration fixed-rate investments probably four or five months ago,” Schwarzman said at Goldman Sachs Group Inc.’s financial services conference today in New York. “It’s probably a better bet that interest rates will be going up rather than down and we don’t want to give back profits from loss of principal.”

    Schwarzman said he doesn’t think institutional investors are allocating more money to fixed income currently, though their commitments to other alternative assets, such as private equity and real estate, are increasing.

    Sentiment: Buy

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