Houston Chronicle – The billionaire buyout boys are back. Six years ago, wealthy hedge funds, including the Blackstone Group, exploited Texas’ electric deregulation law, making a fast billion by flipping generating assets that had once belonged to our local regulated utility.
Last week, the buyout boys returned, once again eyeing a power play. Blackstone announced it’s orchestrating a $4.7 billion deal to buy Houston’s long-struggling Dynegy.
