Stephen Schwarzman

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Schwarzman Weighs In on Market Reforms

Private-equity billionaire says regs should be global, streamlined

(Newser) - With the world in “the worst financial crisis in recent memory,” private-equity billionaire Stephen Schwarzman advocates seizing the opportunity to prevent a repeat. In an op-ed piece in the Wall Street Journal, the Blackstone CEO, who pocketed $677 million from the firm’s IPO last year, calls for... More »

Landmark NY Library to Be Renamed for Donor

Wall Street financier donates $100 million

(Newser) - Following the style of sports stadiums, Manhattan's stately beaux arts library on Fifth Avenue will be renamed for a key contributor to a billion-dollar expansion of the library system. Private equity king Stephen Schwarzman is giving the library $100 million from his several-billion-dollar fortune, reports the New York Times. Schwarzman,... More »

Blackstone Pushes to Delay Tax Increase Bill

If measure won't die, buyout giant wants 10-year grace period

(Newser) - If Blackstone and other buyout firms can't kill a proposed bill that would increase their taxes, they'll try for a 10-year delay in enacting it. Under pressure from lobbyists, lawmakers are discussing doubling the proposed 5-year grace period, Bloomberg reports. The legislation, introduced before Blackstone went public in June, has... More »

KKR Joins IPO Party

After Blackstone's triumph, barbarians at the public gate

(Newser) - Corporate raiders Kohlberg Kravis Roberts & Co. have announced an initial public offering, on the heels of a wildly successful $34B IPO by rival Blackstone yesterday. The mammoth LBO group, whose boss Henry Kravis maintains a well known rivalry with Blackstone's Stephen Schwarzmann, waited to make sure Blackstone swam before... More »

Blackstone IPO Payouts Will Eclipse Google

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... More »

China to Buy $3B Stake in Blackstone

Beijing moves onto Wall Street with historic deal

(Newser) - The Chinese government will buy a 9.9% stake in Blackstone, the US private equity fund that's about to launch its IPO. The $3 billion purchase of nonvoting shares, the first time China has invested its enormous foreign reserves in commercial stock, is meant to exploit a private equity market... More »

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