Blackstone, Carlyle Urge Portfolio Companies to Tap Credit (2)

Private equity titans Blackstone Group Inc. and Carlyle Group Inc. are sending a message to portfolio companies: Do whatever it takes to stave off a credit crunch.

Businesses controlled by the firms are joining a growing wave of corporations drawing down bank credit lines to help prevent any liquidity shortfalls amid signs of mounting stress in markets. At Blackstone, which has weathered a variety of crises in its 35 years, the focus is on sectors hurt by the coronavirus, such as the hospitality industry, as well as energy firms facing a slump in oil prices, according to people with knowledge ...