Hedge Funds

Blackstone adds two to new distressed unit

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The Blackstone Group has added two principals for its recently formed Distressed Debt Advisors unit headed by distressed veteran John Dionne.

Jeremiah Keefe comes to the division from Deutsche Bank, where he was the director of European distressed research and also was part of a team of traders managing the bank's proprietary distressed debt investments.

Before that, he was a vice president with MFS Investment Management, where he was responsible for distressed, defaulted and bankrupt securities.

Blackstone also hired Il Lee from Harbert Management Corporation - a $3 billion hedge fund that focuses on the distressed debt of