Skip to content
Subscriber Only

Blackstone ‘Scrambling’ to Invest in Energy, James Says

Updated on

Blackstone Group LP, the biggest alternative-asset manager, is “scrambling” to invest more than $10 billion in energy companies after the price of oil plunged, the firm’s president said.

“Our people are scrambling and trying to come up for air,” Tony James said on a call with reporters today discussing Blackstone’s fourth-quarter earnings. “Everything just got hammered at once. There’s clearly some very interesting values in the credit markets just buying debt at big discounts to face and getting equity-like returns.”