Knapp has more than 20 years of dedicated industrial experience, most recently as head of the global industries group at UBS and vice chairman of the firm’s investment banking division.
Over the years he has led the advisory on deals including the $8bn demerger of Anglo-American Corporation’s paper and packaging subsidiary Mondi, International Paper’s $4.3bn purchase of Temple-Inland and Stora-Enso’s sales of its North American Papers division for $2.5bn.
Knapp started his career at Donaldson, Lufkin and Jenrette and E F Hutton and Company, and worked as a senior banker at Morgan Stanley until 2002 when he joined UBS Investment Bank.
Blackstone Advisory Partners global head John Studzinski said, “Karl’s long experience and track record advising CEOs, companies and boards will enable Blackstone’s Advisory practice to operate at another level within the industrial space.
“His strong industry knowledge in the areas of paper and packaging, building products and diversifieds will also allow us to make further inroads in these important industrial sectors.
“There is no question that Karl’s addition will make a material impact on our commercial and strategic platform.”
Earlier today it emerged that GSO Capital Partners, the credit investment arm of the Blackstone Group, had doubled the size of its second capital solutions fund by raising $5bn.
GSO Capital Solutions Fund II is more than 50 per cent larger than its first capital solutions fund raised in 2010.
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