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Private Capital Symposium Video: Tony James on Blackstone's dealflow

Published August 6, 2008 at 12:08 PM


At The Deal's Fifth Annual Private Capital Symposium Hamilton "Tony" James, the president and COO of the Blackstone Group LP, spoke about his firm's dealflow and attributed its success to its investment strategy.

James said that the real value in the corporate market evolves around leveraged loans."Capitalizing on the credit crunch itself, we have bought several portfolios or individual names of debt that is sitting on the balance sheet of the banks. Many of those banks are either motivated to sell by regulatory pressures, capital pressures, or to please markets, and they don't really think for the most part that selling those assets today is an economically sensible thing to do. But they don't really have any choices. So they are taking some of these big chunks of leveraged loans, most particularly, and dumping it into the market," James said.

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