Private Equity

  • 25 Sep 2014 at 9:15 AM

Caption Contest Thursday: It’s Showtime


[via @blackstone]

Kravis and Roberts first cousins; Kravis’ mother and Roberts’ father were siblings. Both learned the energy business from their fathers. Roberts’ father was an oil broker in Houston who took his son to business meetings; Kravis’ father was a petroleum engineer in Tulsa. The Kravis and Roberts families spent summers and holidays together, and the future lions of Wall Street swear they haven’t had an argument since they were 8 years old.1 The last one involved who would get to ride Kravis’ new bicycle first. [Barron's]

1. Obviously when one pictures an 8 year-old Henry Kravis one pictures Kravis’s current face/head on a child’s body.

Blackstone has agreed to buy the Cosmopolitan of Las Vegas, Deutsche Bank’s $4 billion dollar mistake. The private equity firm will pay $1.73 billion to acquire an establishment that Deutsche top executives have refused to be associated with; people go to not gamble; and in five years has never turned a profit. For those who think the deal represents a loss for DB, remember that they were just about ready to give the place away for free. Read more »

This may be a miscalculation. Read more »

The former Goldman Sachs Asset Management chief’s—and Jim Chanos neighbor’s and beach bum’s—work at Apollo Global Management is done. Read more »

  • 03 Mar 2014 at 2:22 PM

Bonus Watch ’14: Leon Black

Twinkies (and other things) did right by Black last year. Read more »

Bonus Watch ’13: Carlyle Group Co-Founders

William Conway was handsomely rewarded for having quantitatively more faith in his firm’s products than David Rubenstein and Daniel D’Aniello combined. Read more »

Frank Bisignano isn’t coming right out and saying he’s sorry that his company hired all of those JPMCers right after he quit, but he is offering an olive branch wrapped with a novelty-sized check. Read more »