Blackstone Group Makes Seed Investment in Astaris

In a deal reported by Reuters, Paul, Weiss advised Blackstone Group LP in its $150 million seed investment in London-based Astaris Capital Management through its Blackstone Strategic Alliance Fund IV (SAF IV). Astaris specializes in event-driven credit and equity investments in Europe. Reuters reported that Blackstone’s investment will be split equally between Astaris’s existing hedge fund and a new pool of capital with a drawdown structure. Astaris is the first asset manager to be seeded from SAF IV.

The Paul, Weiss team was led by corporate partner Udi Grofman and included corporate counsel Marian Shin; tax partner Brian Grieve and counsel Christina Cerrito; litigation partner Gregory Laufer; and executive compensation counsel Jake Glazeski.