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Alternative Market Briefing

Blackstone acquires quant credit manager DCI

Tuesday, December 01, 2020

Laxman Pai, Opalesque Asia:

American private equity firm Blackstone has completed the acquisition of quantitative credit investing platform DCI. The financial terms of the deal were not announced.

According to a press release from the investing titan Blackstone, the San Francisco-based technology-driven credit investing firm DCI, which oversees about $7.5 billion in assets.

DCI, which manages long-only and long/short strategies for large institutional and private wealth investors, will become a part of Blackstone's $135 billion GSO operation, which was recently rechristened Blackstone Credit.

"The transaction will broaden Blackstone Credit's capabilities in high yield and investment grade, enable the integration of DCI's models and technology across the combined Blackstone Credit and DCI platforms, and increase access to investors via a UCITs platform," said the release.

DCI's investment process will benefit from Blackstone's resources, scale, and deep relationships across global financial markets, it added.

Dwight Scott, Global Head of Blackstone Credit, said: "DCI has a more than a 15-year track record of developing and applying technology-driven strategies and is at the forefront of the evolution towards quantitative investing in the corporate bond market. DCI will strengthen and differentiate the solutions we provide to our retail, institutional, and insurance clients."

Tim Kasta, CEO of DCI, said: "Joining Blackstone Credit will provide DCI'......................

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