Mr Cooper Group Inc (COOP)

[dugit69]

Blackstone to Become Investment Bank?

http://www.cnbc.com/id/100430369

Blackstone, one of the world's largest alternative asset managers, has quietly secured a securities underwriting licence as its expanding capital markets operation strays into investment banking territory.

Blackstone's ambitions to date are more modest. "It is just an arrow in the quiver," says one person familiar with the matter. "It is a way to serve clients in corporate restructuring or in the mergers advisory business or in the private equity portfolio. If it proves interesting, Blackstone may grow it over time."