Blackstone Group and Dahlman Rose to Cooperate on Restructuring Services for Maritime Sector
Blackstone and Dahlman Rose & Co. Sign Agreement to Cooperate on Restructuring Services for Maritime Sector
NEW YORK — March 9, 2011 – The Blackstone Group (NYSE: BX) and Dahlman Rose & Co. announced today an agreement to jointly provide financial advisory services to maritime clients seeking to recapitalize or restructure their balance sheets. The agreement encompasses maritime restructuring situations globally and relates to a broad array of potential financial restructuring constituents, including borrowers, secured creditors, lessors, charterers, unsecured and trade creditors and equity participants.
“This new venture combines the world-class restructuring experience of Blackstone with the dominant maritime sector knowledge and global relationships of Dahlman Rose to create the leading advisory group for the maritime industry,” said Flip Huffard, Senior Managing Director at Blackstone.
“Our goal is to expand the portfolio of value-added services and effect innovative solutions for clients during this challenging period in the maritime industry,” added Mark J. Schulte, Global Head of Transportation Investment Banking at Dahlman Rose.
The cooperative effort will be staffed with senior professionals from each organization and will begin offering its services immediately.
About Blackstone Group
Blackstone (NYSE: BX) is one of the world’s leading investment and advisory firms and is a leading advisor to companies and creditors in situations involving the recapitalization or restructuring of balance sheet liabilities. Blackstone’s restructuring professionals have global reach with offices in New York, London and Sao Paolo. Blackstone seeks to create positive economic impact and long-term value for the companies and creditors it advises, its investors and the companies it invests in and the broader global economy. The firm accomplishes this through the commitment of its extraordinary people and flexible capital. The Blackstone Group provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Blackstone’s alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented fund and closed-end mutual funds. Further information is available at www.blackstone.com.
About Dahlman Rose & Co.
Dahlman Rose & Company, LLC (MEMBER: FINRA/SIPC) is a research-driven investment bank focused on industries that compose the global supply chain, including transportation, infrastructure, metals & mining and energy. The firm’s industry-leading analysts, bankers, salesmen and traders consistently offer unique insights into the companies and markets that provide the building blocks of the global economy. Headquartered in New York, with offices in Boston and Houston, Dahlman Rose is a full service firm providing capital markets services and M&A advice; institutional sales and trading and equity/fixed income research. Further information is available at www.dahlmanrose.com.