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Blackstone profits from aiding banks

Blackstone Group ($21.59 0%) last year insured Citigroup  ($50.01 0%) against any initial losses on a $1.2 billion pool of shipping loans, said two people with knowledge of the transaction, who asked not to be identified because the matter is private.

source » Bloomberg
byline » Michelle Wiese Bockmann: Liam Vaughan: Ben Moshinsky