Blackstone invests in PMI
The Blackstone Group has acquired a “significant” equity stake in the PMI Group. Financial terms weren’t announced. Blackstone has also agreed to provide PMI with a loan for working capital needs in exchange for warrants and certain other rights. PMI is the holding company for PMI Mortgage Insurance, which provides residential mortgage insurance coverage in the United States. Peter J. Solomon Company advised PMI while Blackstone Advisory Partners L.P. advised Blackstone.
2 September 2015•3 mins read
