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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: Blackstone Group

Blackstone Group stories: 24 news summaries

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analysis

Private Equity Giants See Big Payday—If They Don't Go Bust

All the major players
have survived so far

Jan 2, 09 12:31 PM CST
(Newser) - None of the major players in the "shadow banking" world of private equity—the likes of Blackstone, Carlyle, and KKR—has yet gone bust, and the guessing game of which one will be first is well under way, reports Newser founder Michael Wolff in Vanity Fair. Don't hold your... More »

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private equity • Blackstone Group • Carlyle Group • KKR • private equity firms

OPINION

Schwarzman Weighs In on Market Reforms

Private-equity billionaire says regs should be global, streamlined

Nov 4, 08 10:46 AM CST
(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 »

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private equity • Stephen Schwarzman • Blackstone Group • central bank • mortgage backed securities • bailout • financial crisis

Hedge Funds Poised to Profit as Banks Shun Risk

Private equity eyes trading territory ceded by changes at Goldman, Morgan Stanley

Sep 23, 08 1:05 PM CDT
(Newser) - With the last two large US investment banks going commercial in an effort to stay afloat, private-equity and hedge funds are stepping into the void, the Wall Street Journal reports. Taking on roles previously filled by the likes of Goldman Sachs and Morgan Stanley, hedge funds like Citadel and private-equity... More »

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Blackstone Group • Goldman Sachs • Merrill Lynch • Lehman Brothers • Citadel Investment Group • market turmoil • investment banks • hedge funds

Lehman Shops Key Unit
in Quest for Cash

The troubled Wall Street firm is taking offers for its strong fund management wing

Aug 19, 08 8:50 AM CDT
(Newser) - Lehman Brothers is shopping a piece of its investment management unit, the Wall Street Journal reports, joining other large banks in shedding strong-performing businesses to offset mortgage meltdown losses. Lehman’s management business, which includes Neuberger Berman and hosts 27 mutual funds managing $22 billion in individual and institutional wealth,... More »

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Blackstone Group • Citigroup • Carlyle Group • Merrill Lynch • Lehman Brothers • mutual funds • subprime crisis • investment banks

 Weather Channel Sells for $3.5B 

NBC, Blackstone, and Bain score cable stalwart for far under expected $5B

Jul 7, 08 6:25 AM CDT
(Newser) - NBC is heading an investor group that will buy the Weather Channel for nearly $3.5 billion—well below the $5 billion Landmark Communications was expecting when it put the iconic cable channel up for sale in January. The group, which includes private equity firms Bain Capital and the Blackstone... More »

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Time Warner • Blackstone Group • cable TV • NBC Universal • Bain Capital • acquisition • Weather Channel • Landmark Communications

Landmark NY Library to Be Renamed for Donor

Wall Street financier donates $100 million

Mar 11, 08 3:30 AM CDT
(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 »

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Stephen Schwarzman • Blackstone Group • New York City Ballet • Museum of Modern Art • expansion • Lincoln Center • New York Public Library • Beaux Arts • Landmarks Preservation Commission • John F. Kennedy Center for the Performing Arts • Frick Collection • Astor Hall • refurbishing • rebuilding • Mid-Manhattan library

PHH Deal Collapses After Banks Back Off

Blackstone Group says lenders reneged on original financing terms

Jan 2, 08 7:27 AM CST
(Newser) - The $1.8 billion sale of mortgage and auto-leasing company PHH to General Electric and  the Blackstone Group is off the table, after Blackstone was snubbed by banks it had lined up for its share of financing, Bloomberg reports. The deal is the latest private-equity buyout felled by the subprime... More »

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private equity • Blackstone Group • GE • PHH

Chinese Pension Fund Considers US Private Equity Deals

Burned by Blackstone, Beijing takes it slow

Oct 30, 07 9:25 AM CDT
(Newser) - China, suffering buyer’s remorse after investing in US private equity firm Blackstone, is taking its time before diving back into that end of the financial pool, reports the Financial Times. The Big Three of US equity firms, Carlyle, KKR, and TPG, are each seeking a minority investment from China’... More »

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China • Blackstone Group • Bear Stearns • US economy • Citic Securities Co.

Congress Drops Tax Hike for Private Equity

Superwealthy investors will get to keep tax breaks they now enjoy

Oct 9, 07 12:39 PM CDT
(Newser) - A proposed tax hike on some of America's wealthiest investors isn't likely to happen this year, as Senate Democrats say they're shelving a bill that would have eliminated the special tax rate enjoyed by private-equity managers. Senate Majority Leader Harry Reid says a crowded legislative calendar makes considering the bill—... More »

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Congress • Blackstone Group • Senate • Harry Reid • Charles Rangel • Senate Finance Committee • lobbyists • private equity firms • lobbying blitz • buyout firms • Sander M. Levin

Blackstone Partners Profit on IPO Taxes

Loopholes pay off for buyout firm managers after $3.7 bil offering

Jul 13, 07 10:54 AM CDT
(Newser) - The Blackstone Group's partners have expertly negotiated a labyrinth of loopholes to dodge taxes on $3.7 billion they raised with an IPO last month, the Times reports. The maneuver comes as congress discusses what to tax private equity managers, but analysts say the rate debate misses the point; firms... More »

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Blackstone Group • taxes • IPO • capital gains tax

Euro Hotels
Hot After
Blackstone Deal

Stocks soar on speculation of more private equity buyouts

Jul 5, 07 4:34 AM CDT
(Newser) - Investors are snapping up shares of some Europe's biggest hotel chains, the Financial Times reports, as the market bets that more private equity firms will tuck into new cross-Atlantic deals. They're inspired by Blackstone's $26 billion Hilton offer, and a banner year for hotel buyouts more generally. More »

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private equity • Blackstone Group • Europe • Accor • Sol Melia • hotel • Hilton • Intercontinental

Blackstone Books Hilton For $26B

Offer represents 40% premium; chain to stick to hotel management

Jul 3, 07 8:38 PM CDT
(Newser) - Blackstone moved to expand its hotel portfolio in a big way late today, making a deal to take Hilton private for $26 billion, including $7.5 billion in debt. The $47.50 per share offer, 40% more than yesterday's close, turned the head of the chain's CEO, who called it... More »

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private equity • Blackstone Group • privatization • Wyndham • hotel • Hilton • LaQuinta

KKR Makes
IPO Official

Private equity behemoth follows Blackstone into
the public pool

Jul 3, 07 7:34 PM CDT
(Newser) - Undeterred by the possibility of potentially devastatingly tax-law changes, Kohlberg Kravis Roberts firmed up its IPO plans today, filing SEC documents that value the issue at up to $1.25 billion. The private (for now) equity firm said it will list as a partnership, like archrival Blackstone, which went public... More »

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private equity • Blackstone Group • private equity goes public • Kohlberg Kravis Roberts • KKR • IPO

Mortgage Worries Drive Markets Down

Exchanges sink on subprime woes; Blackstone jumps in debut

Jun 22, 07 4:45 PM CDT
(Newser) - The major exchanges plummeted today, wrapping up a week of seesawing during which the Dow and the S&P 500 lost about 2% and the Nasdaq fell 1.4%. Even Bear Stearns' announcement that it will bail out a hedge fund entangled in subprime loans couldn't stop the bleeding. The... More »

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stock market • Blackstone Group • Dow Jones • stocks • IPO • S&P 500

KKR Joins
IPO Party

After Blackstone's triumph, barbarians
at the public gate

Jun 22, 07 9:05 AM CDT
(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 »

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private equity • Stephen Schwarzman • Blackstone Group • finances • taxes • investors • KKR • Henry Kravis • IPO

Blackstone IPO Fetches $4.13B

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

Jun 21, 07 5:05 PM CDT
(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... More »

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private equity • Blackstone Group • Carlyle Group • stocks • KKR • Steve Schwarzman • Peter Peterson • IPO

Senate Puts Blackstone on Notice

Tax maneuver may derail IPO, transform private equity

Jun 15, 07 12:48 PM CDT
(Newser) - Less than 2 weeks ahead of Blackstone's IPO, bipartisan legislation introduced in the Senate yesterday threatens to hamper or halt the avidly anticipated stock sale. The private equity behemoth's tax bill would more than double if the measure—under which partnerships like Blackstone would pay the 35% corporate rate rather... More »

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private equity • Blackstone Group • taxes • Senate • IPO • stock • hedge fund

Blackstone IPO Payouts Will Eclipse Google

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

Jun 12, 07 5:32 AM CDT
(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 »

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Stephen Schwarzman • Blackstone Group • IPO • Pete Peterson

Blackstone Honchos Cash In on IPO

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

Jun 11, 07 9:04 AM CDT
(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... More »

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private equity • Blackstone Group • LBOs • Steve Schwarzman • IPO • Pete Peterson

China to Buy $3B Stake
in Blackstone

Beijing moves onto
Wall Street with historic deal

May 21, 07 7:18 AM CDT
(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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China • private equity • Stephen Schwarzman • Blackstone Group • business • IPO • stock

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