Blackstone Is Taking A Break From Russia

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Well, not so much a break as a permanent hiatus from repeatedly banging its head against an increasingly hard wall.

Blackstone, which does not have an office in Russia, has chosen not to renew the contracts of the consultants it employs in the country.

According to a person with knowledge of the matter, the move will bring to an end Blackstone's embryonic attempts to break into Russia….

Blackstone's decision was also prompted by the fact that it had not found suitable investment opportunities in the past three years, the person said. "In the good times, Blackstone couldn't find anything to do and in the bad times, Blackstone can't imagine doing anything."

Blackstone to pull out of Russia [CNBC]

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