Blackstone will bid for Callidus, reports Bloomberg

Bloomberg reports that Blackstone is in “exclusive” talks to buy Callidus Capital, the leveraged loan business owned by Allied Capital. The article does not make it clear whether this is a rival offer to Ares Capital’s agreed bid to buy Allied Capital, announced in October, or whether Blackstone is in talks with Ares to buy only the Callidus unit. Blackstone will pay between $25 million and $30 million for Callidus, according to Bloomberg.

Blackstone already owns a substantial loan manager, GSO Capital Partners, which it bought in 2008 and merged with its smaller existing high yield business.

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