Blackstone Group Builds Portfolio For Yield Hungry Investors

High yield junk-debt funds are a growing business at the moment, and one of the biggest beneficiaries is The Blackstone Group L.P. (NYSE:BX) according to an article in Businessweek. The funds, non-traded business-development companies, which were invented just four years ago, were sold in abundance last year, the market for them doubled from 2011 to $2.8 billion. These, like many other new alternative investment strategies, are designed to attract investors looking for high yield returns. They offer annual payouts of around 8 percent, drawing in investors who have not been meeting their targets. The funds look dangerous but they are…