Sloan Reviews the Blackstone IPO Filing

Barbarians at the gate will arrive flush with cash—$2.33B of it

(NEWSER) - And the billionaires get richer. Blackstone founders Steve Schwarzman and Pete Peterson will collect a combined $2.33 bil from the private equity giant's planned IPO, which could take place as early as late June. Schwarzman will keep a 24% stake in the $32B company, worth just under $450M, and the 80-year-old Peterson will cash out with 4% equity, netting him $1.9B. More»

Private equity giant enjoys largest US debut in 5 years; Schwarzman enjoys largest share

(NEWSER) - The Blackstone Group went public today, selling 133.3 million shares at $31 and raking in $4.13 billion, the largest American IPO since 2002. The keenly anticipated issue values the private equity firm, founded by Stephen Schwarzman 27 years ago with $400,000, at $33.5 billion; the price bodes well for other buyout specialists. KKR and Carlyle are also considering going public, Bloomberg reports. More»

Schwarzman's stake in the private equity firm will top $7.5B

(NEWSER) - Huge windfalls due the top executives of the Blackstone Group from their IPO late this month will eclipse even the payday enjoyed by the Google founders three years ago, the Wall Street Journal reports. CEO Stephen Schwarzman will make $677 million and retain a $7.5 billion stake in the company—more than double that of Sergey Brin and Larry Page. More»

More than ever, experienced insiders are scooping news organizations

(NEWSER) - Many high finance blogs just “stink,” David Weidner writes, but discerning “Wall Street junkies” can depend on a few that engage top talent and often scoop major news organizations. He runs down 10 of the best news and analysis sites in the Wall Street Journal , “skipping the stockpickers or pure investing sites.”

• The Big Picture: Fund manager Barry Ritholz's site is "beautiful," "updated frequently," "written in plain English," and counts Nouriel Roubini and the Fed as readers.

Bill passes 223-202, with Senate to act next year

(AP) - The House today passed a sweeping overhaul of financial regulations that would govern Wall Street and reconfigure the power of the agencies overseeing the banking system. The vote was 223-202, with nearly all Republicans in opposition because of fears over too much government intrusion. The bill is designed to address the shortfalls that led to last year's calamitous financial meltdown. More»