Blackstone Group has reaffirmed its reputation as the most successful of the private equity firms to diversify by breaking into the list of top five restructuring advisers.

Blackstone came fifth out of 25 restructuring advisers globally for deals completed last year, according to a league table published today by data provider Thomson Reuters. The firm beat more traditional advisers including UBS in sixth place, Morgan Stanley in 14th and Lehman Brothers adviser Alvarez & Marsal in 23rd.