Blackstone teams up with European consultants

The global alternative asset manager has formed an alliance with Roland Berger Strategy Consultants, the Munich-based restructuring specialists.

The Blackstone Group is reported to have entered into a joint venture agreement with Roland Berger Strategy Consultants, the Munich-based management consultancy firm.

The move is part of Blackstone’s ambition to play a leading role in deploying private equity to restructure European economies. Roland Berger should be able to help Blackstone identify suitable investment opportunities.

Regulations governing the labour markets in many European markets often make it difficult to restructure a business, Steven Schwarzman, Blackstone’s CEO, told the Financial Times. Roland Berger, which has over 1,000 consultants in 30 offices, is to advise its new partner on which companies could be restructured effectively.

Earlier this year Blackstone, launched a $4bn European-focused buyout fund to predominantly invest in undervalued industrial assets. The group manages a total of $50bn and invests in real estate, hedge funds, mezzanine funds and private equity.