Blackstone Announces Agreement to Acquire DCI, a Pioneer in Technology-driven, Quantitative Credit Investing
November 30 2020 - 7:00AM
Business Wire
Blackstone (NYSE:BX) today announced that it has agreed to
acquire DCI, a pioneer in quantitative credit investing with
approximately $7.5 billion in AUM across the global investment
grade, high yield and emerging corporate credit markets. The firm,
based in San Francisco, applies a proprietary, fundamental-based,
technology-driven model to deliver differentiated returns to
clients. DCI is led by a team of seasoned professionals who are
recognized experts in quantitative and systematic fixed income
research.
DCI will become part of Blackstone Credit, a global leader in
private lending, syndicated leveraged loans and collateralized loan
obligations. 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. DCI’s investment process will
benefit from Blackstone’s resources, scale and deep relationships
across global financial markets.
Dwight Scott, Global Head of Blackstone Credit, said: “DCI has a
more than 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’s team and investors with access to unparalleled
institutional resources and asset management expertise and
accelerate the development of innovative solutions in corporate
credit.”
Blackstone Credit is one of the world’s largest credit-focused
asset managers, with $135 billion in AUM and a team of over 350
professionals (as of September 30, 2020). Its strategies cover the
corporate credit market, with leading positions in both liquid and
private markets.
About DCI
DCI is an independent asset management firm specializing in
investment grade, high yield, and emerging market corporate credit
strategies. The firm manages long-only and long/short strategies
for some of the world's largest institutional and private wealth
investors. DCI deploys a fundamental based, systematic approach
seeking to exploit potential inefficiencies in the corporate credit
markets. DCI was awarded the Hedge Fund Journal's "Corporate Credit
- Market Neutral, Best Performing Fund in 2019 and over 2, 3, 4, 5,
and 7 Year Periods" for the DCI Market Neutral Credit Fund (UCITS).
This is the 4th consecutive year DCI has been presented with this
award. DCI was co-founded in 2004 by Stephen Kealhofer, Mac McQuown
and David Solo.
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $584 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity, life sciences,
growth equity, opportunistic, non-investment grade credit, real
assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201130005529/en/
Kate Holderness Kate.holderness@blackstone.com 917-318-6818
Blackstone (NYSE:BX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Blackstone (NYSE:BX)
Historical Stock Chart
From Sep 2023 to Sep 2024