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Icahn Bets Against Renewables Market He Wants Trump To Overhaul
Carl Icahn, the billionaire investor and adviser to President Donald Trump, said he’s betting on a decline in the market for renewable-fuel credits that he’s urging the president to overhaul. Icahn participates in the market through CVR Energy Inc., the oil refiner in which his Icahn Enterprises LP owns an 82 percent stake. CVR is required to buy the credits, known as renewable identification numbers, or RINs, when it makes gasoline. But Icahn said it’s delaying those purchases in a ... Full investment news article
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Carl Icahn,
Blackstone Is Shutting Its Distressed-Debt Fund
Blackstone Group LP is ending its $3 billion distressed-debt hedge fund and will shift most of the assets into other credit funds that lock up client capital. The firm said it’s offered investors in its GSO Special Situations Fund the option to move assets into other distressed credit pools that don’t feature withdrawals. The special situations team, led by Blackstone partner Jason New, will continue to oversee the investments. “We have decided to transition the investment activities of our hedge ... Full investment news article
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Third Avenue Management,