The PMI Group, Inc. (OTCPK:PMIR) announced that it has received a round of funding from new investor The Blackstone Group L.P. on September 2, 2015. The company issued common stock and raised loan in the transaction. The company issued warrants and certain other rights against the loan.

Among other rights, the investor will have the right to participate in future equity offerings by the company and is expected to nominate a director to the board. The investor participated through funds affiliated with Blackstone Tactical Opportunities.