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THURSDAY, NOVEMBER 26, 2009
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Sloan Reviews the Blackstone IPO Filing

Not quite financial porn, but some revealing moments

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(Newser) –  The IPO filing for the notoriously secretive Blackstone Group wasn't the tell-all Wall Street watchers had hoped for, says Newsweek’s Wall Street editor Allan Sloan, who searched in vain for how big a stake is held by the private equity partnership's  two Mr. Bigs, Steve Schwarzman and Pete Peterson, and how much they and their partners have been paying themselves.

“It was like watching ‘Sex and the City’ on basic cable: the good stuff's gone missing.” As is the stuff you need to do a decent financial analysis of the offering, says Sloan. But there nuggets, including the financial structure that allows Schwarzman to take home more than $300 million a year with a salary of  just $350,000.

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