Blackstone’s James Says Collusion Lawsuit Complete Fabrication

Blackstone President Tony James said allegations that the biggest buyout firms colluded to rig bids for transactions are untrue and that they may have been politically motivated in an election year.

“The lawsuit is a complete fabrication and a bunch of malarkey,” James said today in a conference call discussing third-quarter earnings. It’s “permissible and a requirement to team up. In a competitive environment you want to pick the strongest partner you can,” he said

To contact the reporters on this story: Devin Banerjee in New York at dbanerjee2@bloomberg.net; Saumya Vaishampayan in New York at svaishampaya@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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