Press Release: PMI : The PMI Group Announces Strategic Investment by Blackstone

NEW YORK--(BUSINESS WIRE)--The PMI Group (OTC: PMIR) ("PMI" or the "Company") today announced that funds affiliated with Blackstone Tactical Opportunities ("Blackstone") have made a strategic investment in the Company. In connection with the purchase of a significant equity stake in PMI, Blackstone has agreed to provide the Company with a loan for working capital needs in exchange for warrants and certain other rights. The Company intends to use the funds to pursue its investment strategy, whic