| Traditional bank lending is being replaced on a large scale by alternative lenders including sovereign wealth funds and insurance companies, Blackstone’s managing director Marty Kandrac said during a conference on hotel refinancing at EXPO REAL.
The US private equity group, which last month took control of UK hotel chain Mint Hotels for around £600 mln (EUR 687 mln), said the deal was financed with a £300 mln loan provided by a number of players, none of which was a bank..............................................Full Article: Source
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