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Blackstone Forms Offshore-Focused Drilling / Services Co.
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Blackstone announced that it has formed Clarion Offshore Partners LLC, a new platform to provide strategic solutions to the offshore oil and gas drilling and services sector, with a financial commitment from private equity funds managed by Blackstone.
Clarion’s investment mandate is broad and flexible, enabling the partnership to pursue opportunities with a wide array of industry participants, including offshore drilling companies, shipyards, financial institutions, investors, and oil & gas operators. The partnership will provide creative financing solutions including growth and restructuring capital to the sector.
Louis Raspino said, “This is an opportune time in the industry for a well-capitalized and experienced team to provide creative financing and operational solutions. Balance…
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