Blackstone Group

  • Blackstone Group, KKR, Private Equity

    RBS Locks Out Private Equity

    How bad is the reputation of private equity? Months after private equity companies began to back away from deals that no longer seem promising in our credit crunched world, the Royal Bank of Scotland has told many of the biggest private equity firms they aren’t welcome in the first round of the auction of the […]

    / May 14, 2008 at 3:22 PM
  • Blackstone Group, Steve Schwarzman

    Steve Schwarzman Tells Hard-Studying Bronx Kids That Good Grades Are Over-Rated

    “How do you get from here to the rest of the world?” The question is one of the most heart-breaking moments on this season of the Wire. It’s asked of Cutty, an ex-con turned proprietor of a neighborhood boxing gym. The youngster asking it is Dukie, of the desperate kids caught up in the mess […]

    / Mar 3, 2008 at 1:38 PM
  • Blackstone Group, Steve Schwarzman

    Being Steve Schwarzman Means Never Having To Stay Home

    Apparently a quiet night at home in the largest living room in Manhattan wasn’t cutting it for Stephen Schwarzman. His birthday celebration was certainly toned down from the multimillion bash at the Armory the year before. But he still managed to make it out for the night with his wife Christine Schwarzman. The couple was […]

    / Feb 19, 2008 at 4:58 PM
  • Blackstone Group, Buyouts, Private Equity

    Blackstone Bid For Rio Tinto: Buyout or Bad Rumor?

    This morning the Telegraph reported that Blackstone was preparing an “audacious plan” to break up mining giant Rio Tinto. None of our usual sources has yet recovered from spending the weekend dressed as Santa Claus so we haven’t been able to reach anyone on it. But DealBook, which has shown that its got some very […]

    / Dec 10, 2007 at 9:04 AM
  • Blackstone Group, Hilton Hotels, Leveraged Buyouts

    Blackstone Inches Ahead With Hilton Deal

    Another private equity deal that has a lot of people paying attention is moving ahead. Blackstone’s $26 billion takeover of Hilton Hotels has been closely watched as another indicator of the strength of the buyout market and the willingness of banks and investors to finance the deals. Yesterday Hilton announced that it was kicking off […]

    / Sep 13, 2007 at 12:02 PM
  • Blackstone Group

    Blackstone 52-week Low Watch: A New Low

    Blackstone plunged over 3% and hit $21.30 this morning, pushing well into new low territory since its IPO. Without fearing even the most expensive crabs, Blackstone played “just the tip” with the $21-$22 range earlier in the week and subsequently decided to plunge deep into new, lower territory. It’s only a matter of time before […]

    / Sep 7, 2007 at 11:20 AM
  • Blackstone, Blackstone Group, Steve Schwarzman

    Can Steve Schwarzman Be Saved?

    Blackstone big Steve Schwarzman may have gone into hiding but he’s still the talk of the town. Especially if your plot of land in that town—Greenwich, East Hampton, etc—was bought with private equity tax-advantaged dollars. “Whenever group of private-equity guys gets together nowadays, the conversation inevitably turns to Steve Schwarzman,” the Economist reports today. “It […]

    / Sep 4, 2007 at 2:19 PM
  • Blackstone Group

    Blackstone Triples Revenues, Income, Attitude

    People used to say that the Blackstone Group was an investment bank pretending to be a private equity shop. Now they might start to wonder whether Blackstone is really a REIT. A REIT with an infinite credit line. The world got a look for the first time at the quarterly earnings for Blackstone today. The […]

    / Aug 13, 2007 at 4:53 PM
  • Blackstone Group, movies

    Worst. IPO. Ever.

    The Simpsons made $72 million in its opening weekend (our favorite comic book guy scene – facing impending doom, the comic book guy muses (paraphrasing here) “I’ve done nothing in my life buy collect comic books. Life well spent!”), picking up some Hollywood slack this summer by being one of the few films to exceed […]

    / Jul 30, 2007 at 9:44 AM
  • Blackstone Group

    Blackstone Makes A Mysterious Surge

    Blackstone Group traded up yesterday despite the near-universal melt-down on Wall Street, surging from $23.80 to $25.70 in the final ten minutes. After dropping almost nine percent in the afternoon, BX rallied with a flood of buy-orders, including a block of 114,000 shares at 3:59:55pm. Was this the work of Morgan Stanley or Citigroup, pulling […]

    / Jul 27, 2007 at 1:37 PM
  • Blackstone Group, Steve Schwarzman

    Should Blackstone Take Itself Private?

    After the monumental IPO last month, Blackstone Group may already be an appealing target for private equity, Slate columnist Daniel Gross suggests. What makes a good target? Slumping stock, healthy margins, lots of cash, valuable brand name, manageable debt, liability in public ownership. Check, check, check, check, check, check. There’s a final bonus to Blackstone […]

    / Jul 24, 2007 at 3:03 PM
  • Blackstone, Blackstone Group, Hilton Hotels

    How Steve Schwarzman Totally Got Paris Hilton and Lindsay Lohan Back Together Again!

    The Blackstone Group’s $26 billion bid for Hilton Hotels has certainly ignited speculation about whether another big hotel chain—perhaps Hilton rival Marriot or Starwood—might also get taken out by private equity or whether some group might try to roll-up smaller companies to take advantage of economies of scale and branding. Supposedly, everyone’s all excited about […]

    / Jul 11, 2007 at 9:04 AM
  • Blackstone, Blackstone Group, IPO, Stephen Schwarzman

    Calling Blackstone’s First Day Performance
    And The Winner Is…

    After opening with a poplet after its initial public offering on Friday, Blackstone’s stock has been trending downward toward the IPO price. On Friday, we asked DealBreaker readers to guess the price of the shares at close. (A move, we happily confess, was a blatant rip-off of a Market Beat item.) Reader BB called it […]

    / Jun 25, 2007 at 2:56 PM
  • Blackstone Group, parties

    The Blackstone Bash
    Pete Peterson Parties On Eve Of BX IPO

    On the eve of the company he co-founded with Stephen Schwarzman going public in the sixth largest IPO in US history, Pete Peterson threw a party for his daughter Holly at the Four Seasons. The party, ostensibly to celebrate the publication of Holly’s debut novel The Manny, attracted a host of notable guests from the […]

    / Jun 22, 2007 at 2:00 PM
  • Blackstone Group

    Blackstone Shares: Jumping or Slumping?

    We’re almost halfway through the first trading day for shares of Blackstone Group, which opened this morning at $36.45. The stock seems to be holding at that level, hovering just above and below the opening price on volume that is fast approaching 100 million shares traded. But some are already starting to grumble that Blackstone’s […]

    / Jun 22, 2007 at 1:42 PM
  • Blackstone, Blackstone Group, IPO

    Launching The BX Missile

    Shares of the Blackstone Group began trading on the New York Stock Exchange this morning under the ticker symbol BX at $36.45, an 18% premium from the initial public offering price. The opening was slightly behind schedule as the specialists handling the stock sorted out some pretty wild bid margins. One buyer asked for a […]

    / Jun 22, 2007 at 11:27 AM
  • Blackstone Group

    Last Minute Poll: Where Will Blackstone Open?

    The countdown to the opening of Blackstone under the ticker symbol BX has begun. The opening volume is expected to exceed 16 million shares, and all sorts of crazy opening numbers are being thrown around. After the jump, we poll the ultimate authority: DealBreaker readers.

    / Jun 22, 2007 at 9:29 AM
  • Blackstone Group

    Write-Offs: 6.21.07
    Special Blackstone IPO Edition

    Breaking: The Blackstone IPO priced at $31. $$$ Both the LA Times and our own Joe Weisenthal ring the alarm bells about the valuation of the Blackstone Group. No one is listening. $$$ Running the numbers on the Blackstone IPO $$$ Congressmen Henry A. Waxman and Dennis Kucinich ask the SEC to stop the IPO. […]

    / Jun 21, 2007 at 5:18 PM
  • Blackstone, Blackstone Group

    The Other Blackstone Party Tonight

    So what if the initial public offering is pricing tonight? Who can even worry about a bunch of Senators who think it’s not fair that Steve Schwarzman’s tax rate is lower than the guy who makes his $400 crab salads? Tonight’s real Blackstone action is happening at the book party for Holly Petersen, the socialite […]

    / Jun 21, 2007 at 12:18 PM
  • Blackstone Group, IPO, Stephen Schwarzman

    Hey Nostradamus! Will Blackstone Regret This Week’s IPO?

    We are all quivering with excitement over the Blackstone IPO this week, but some, like Breakingviews.com editor Edward Chancellor, are looking further into the future. Because many of us at Dealbreaker hold or are pursuing advanced degrees in comparative literature with a financial sector specialization, we were fascinated by Chancellor’s piece in the June Institutional […]

    / Jun 20, 2007 at 3:07 PM
  • Blackstone Group, Senate, taxes

    Is The Blackstone Bill Triple Taxation?

    Lawmakers supporting the bill on Capitol Hill to raise taxes on private equity firms going public claim that it’s a basic matter of tax fairness. The bill’s sponsors, Democratic Senator Max Baucus and Republican Senator Chuck Grassley, have argued that private equity companies should not be allowed to access the public capital markets without having […]

    / Jun 20, 2007 at 2:48 PM
  • Blackstone Group, Stephen Schwarzman

    Steve Schwarzman Takes Over the New York Public Library

    Yesterday the Blackstone Group announced that it was fast-tracking its initial public offering, so that shares in the private equity group will start trading under the ticker symbol BX a week earlier than planned. So how did Blackstone co-founder Stephen Schwarzman spend the night before this big announcement? He went to a party. As we […]

    / Jun 20, 2007 at 1:41 PM
  • Blackstone Group

    Blackstone IPO Planned For This Week!

    The Blackstone Group has moved its IPO up by a week. The private equity company plans to price the offering Thursday evening, and for the stock to begin trading on Friday under the ticker symbol BX. Moving the IPO up after last week’s news of a tax bill that has the potential to lop as […]

    / Jun 19, 2007 at 11:57 AM
  • Blackstone Group

    What Is Blackstone Worth?

    Is Blackstone over-valued at $30 a share? That’s the share price the private equity company is aiming at for its initial public offering. But Breaking Views this morning takes a closer look at the numbers and raises serious questions about what kind of earnings multiple is appropriate for the private equity company. The $30 share […]

    / Jun 19, 2007 at 8:54 AM
  • Banks, Blackstone, Blackstone Group, Goldman Sachs, Stephen Schwarzman

    The Blackstone IPO: Why Did Goldman Get The Greenlight?

    While the rest of us were reading about Economic Net Income and Steve Schwarzman’s big IPO payday, Lauren Silva at BreakingViews was paying attention to something far more important: which banks scored underwriter rolls in the deal. And she noticed that a big name that had been noticeably left out of the deal had found […]

    / Jun 13, 2007 at 3:59 PM
  • Blackstone, Blackstone Group, Stephen Schwarzman

    Steve Schwarzman And How He Got That Way

    Steve Schwarzman is an American, Philadelphia born – Philadelphia, that city of brotherly love – and goes at things as he has taught himself, free-style, and makes the record in his own way: first to knock, first admitted; sometimes an innocent knock, sometimes a not so innocent. But a man’s character is his fate, says […]

    / Jun 13, 2007 at 11:47 AM
  • Blackstone, Blackstone Group, IPO, Private Equity

    Would Blackstone Buy Blackstone?
    And Other Questions About the IPO

    When Is the IPO? Blackstone Day will go down sometime during the week of June 25th, its underwrites said today. The exact date hasn’t yet been set. The stock will trade under the stock ticker symbol BX, in a bold repositioning of a brand logo already popular among proud Bronx hip-hoppers. How Do I Figure […]

    / Jun 12, 2007 at 3:10 PM
  • Blackstone Group

    Blackstone Drops Plan For ‘Enron Accounting’

    The Blackstone group dropped a 673 page revised prospectus for its initial public offering on Monday. The revision more than doubled the size of the prospectus, prompting DealBook to describe it as “Ulysses-esque.” It’s so long that as far as we can tell, no-one is even pretending to have read the entire thing yet. One […]

    / Jun 6, 2007 at 9:38 AM

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