Blackstone Inc is reportedly in discussions with private credit lenders to raise approximately £1.1bn ($1.5bn) for its Clarion Events business, with proceeds intended to refinance existing debt and fund a dividend recapitalisation, according to a report by Bloomberg.
The event management company, which organises exhibitions globally, is also exploring long-term strategic options, including a potential sale that could extend into 2026. The proposed debt package is expected to include a portability clause, allowing the debt to remain in place even if Clarion is sold, giving Blackstone flexibility in executing its exit strategy.
Dividend recapitalisations – where a sponsor adds leverage to generate liquidity for itself – have become increasingly common in the private credit market. Clarion joins a growing list of PE-backed companies pursuing such structures, including CVC Capital’s WebPros, which is also reported to be raising private credit to fund a dividend.
