Blackstone Group Lp News

U.S. investment firm Blackstone Group LP said on Sunday that funds affiliated with Blackstone Infrastructure Partners invested in Carrix Inc, the largest marine terminal operator in the United States and the Americas.The company did not disclose the terms of the transaction.Carrix is the parent of SSA Marine and its related affiliates with operations at over 250 port and rail locations worldwide, including 16 container terminals in Long Beach and Oakland in California, Seattle and Tacoma in Washington…

Private equity firm Quantum Energy Partners will invest up to $1 billion in a new entity for acquisition and development of oil and gas assets that will be managed by Linn Energy LLC. Linn will be able to take a 15-50 percent direct working interest in the acquired assets, the two companies said in a joint statement on Monday. Linn's shares rose 4.5 percent in premarket trading, while its unit LinnCo LLC's shares were up 6.5 percent. The deal comes two months after Linn received funding of up to $500 million from GSO Capital Partners LP, a unit of Blackstone Group LP. Linn, like other oil and gas companies, has been struggling to cope with a 50 percent fall in crude oil prices since June. In response to weak prices, Linn cut its annual payout by more than half in January.

Blackstone Group LP is unlikely to make a foray into commodity trading in the short term as the world's largest alternative asset manager struggles to find a target to fit its asset-light business model, a senior executive said on Thursday. In his first earnings call with reporters since Blackstone lost out to Mercuria to buy JPMorgan Chase & Co's physical commodity division, Blackstone President Tony James said he is still interested in broadening the company's revenue through commodities. "It remains of interest, but I would not count on us doing anything in the short term," he said. James did not identify any potential targets. Instead…