Hedge Funds

Blackstone hires Dionne for distressed unit


The Blackstone Group has hired John Dionne as a senior managing director and chief investment officer of Blackstone Distressed Debt Advisors, where he will lead the development of a new venture focusing on distressed debt.

The new venture will primarily concern distressed debt with an emphasis on smaller, less efficiently traded issues and will exist as a separate unit of Blackstone. In addition to its private equity business and fund of hedge funds, the firm also runs a large restructuring advisory business.

Dionne comes from Bennett Restructuring Fund, a $1 billion hedge fund, where he focused on public