Blackstone looks to shed $2bn of stakes in private investment funds

Blackstone is looking to offload over $2bn of stakes held in private investment funds, presenting a test of investors’ appetite for ageing private equity vehicles. The firm is promoting a so-called collateralised fund obligation (CFO), which will bundle more than $2bn (£1.5bn) of stakes in leveraged buyout funds into bonds to sell to investors and [...]