Steve Schwarzman

  • News, Private Equity

    Private Equity Funds Will Start Earning 30% IRRs For Teachers’ Pensions Again Just As Soon As You All Elect Mitt Romney

    If you work in private equity the last few months have not been kind to you. Man, dog, and Newt have all been ganging up on the industry, and it has not been helped by faux pas from its most famous alumnus, publicity around job losses and dividend-recaps-into-bankruptcy, or a renewed carried-interest debate. Not to […]

    / Feb 2, 2012 at 6:52 PM
  • News, Private Equity

    Steve Schwarzman Is Not Above Shuffling A Few Pieces Of Paper To Keep Nosy Regulators In The Dark About His Personal Fortune

    Unlike some private equity famewhores, Steve Schwarzman is a modest, retiring type who shuns all ostentation and just wants to be left alone with his crabs. So it’s not surprising that he doesn’t want those gossip hounds at the Fed all up in his personal finances, and that he’s willing to go to extreme lengths […]

    / Jan 20, 2012 at 1:49 PM
  • News

    Steve Schwarzman Has Some Helpful Ideas For Obama

    He gets it: no more comparing Obama to Hitler. The new plan is subtlety, which is why the Blackstone boss took to the FT today to show the President an olive branch. Then he whacked Obama with it repeatedly. His best piece of advice? If you really want to fix what ails America, maybe you […]

    / Sep 12, 2011 at 5:32 PM
  • News

    Stephen Schwarzman’s Tip For America: You Want Your Belt To Buckle, Not The Chair

    “We actually have to relaunch America. It’s not just taxes, it’s not just spending, there’s a spirit and confidence that has been strained to breaking point,” Stephen Schwarzman said yesterday. “We’re a bit like a great athlete who stopped training and gained a bunch of weight, we’ve got to get back into training,” he said. […]

    / Sep 8, 2011 at 3:18 PM
  • News

    Steve Schwarzman Is “Still Upset” About This One Time He Lost Money On A Deal, Twenty-Four Years Ago

    Do you remember what you were doing in June 1986? Steve Schwarzman does. He was sitting in his office at Blackstone asking two employees with divergent opinions on the firm’s third-ever potential investment, Tulsa steel distributor Edgcomb, if they should do the deal. Steven Winograd had pushed hard for a buyout while David Stockman had […]

    / Oct 21, 2010 at 1:30 PM
  • News

    Larry Fink: The Biggest Mistake I Ever Made Was Doubting My Own Sheer Fucking Awesomeness

    As previously discussed, CNBC has been running a new series of interviews in which Becky Quick sits down with some financial heavyweight and asks him to discuss the “worst trade” he ever made. While seemingly the stuff of tedious job interviews, wherein applicants are asked to name their worst quality, such as being a workaholic, […]

    / Oct 20, 2010 at 3:10 PM
  • News

    Steve Schwarzman’s Other Two Great Loves: Chicks And Ballet

    In King of Capital, a new book out this week by David Carey and John Morris, the authors chronicle the deals and personalities that shaped the Blackstone Group, starting with how its founders, Steve Schwarzman and Pete Peterson, met at Lehman Brothers. We’re told many times that Schwarzman had a drive like no other to […]

    / Oct 6, 2010 at 12:35 PM
  • News

    Dear Wynnefield Investors. . .

    Investors in Wynnefield Capital (Oscar Tang, Michael Steinhardt, Chuck Royce, Stephen Schwarzman, Larry Leeds, Michael Kassen, Walter Stern, Edward McAree) are up 17 percent year-to-date. But an insider trading case brought by the SEC nearly four years ago is still hanging over the firm. The small-cap fund filed a motion for summary judgement in the […]

    / May 4, 2010 at 1:15 PM
  • News

    Guess Who Gets a Discount on Their Next Goldman CDO

    “We’ve been working with Goldman Sachs since Blackstone was founded almost 25 years ago and I’ve been personally working with them for over 40 years, and we’ve never had any circumstance where there’s been any question about their ethical character or their behavior on any transaction we were involved with.” “We’re a major client of […]

    / Apr 23, 2010 at 1:58 PM
  • News

    45% Of World’s Wealth Destroyed (.45% By Blackstone)

    Steve was kind enough to take some time out of his day to ruminate on the financial crisis over a seafood platter. In summary: This blows, thanks to ratings agencies and mark-to-market accounting, but Geithner is on the case, so don’t worry. Private equity company Blackstone Group LP (BX.N) CEO Stephen Schwarzman said on Tuesday […]

    / Mar 10, 2009 at 4:12 PM
  • News

    Now You’ve Done It. You Pissed Off Steve.

    I am both saddened and outraged to have to tell you that the SEC has brought a civil complaint today against Ramesh Chakrapani in our Corporate Advisory Services Group, charging him with passing on inside information three years ago about a pending transaction on which he worked as a 30 year old vice president. We […]

    / Jan 14, 2009 at 1:18 PM
  • News

    The Only Thing Worse Than A Backhanded Compliment Is A Crabhanded One

    LAST month, as Henry R. Kravis, the co-founder of Kohlberg Kravis Roberts & Company, and his wife, Marie-Josée, took their seats at the Water Cube in Beijing for a session of synchronized diving at the Olympics, they quickly recognized a couple sitting nearby: Stephen A. Schwarzman, the co-founder of the Blackstone Group, and his wife, […]

    / Sep 8, 2008 at 1:34 PM
  • News

    The Dark Side Of Being Rich Enough To Afford $400 Crab Legs

    “And I just hate that I’ve been locked into this whole $400 crab legs shtick thing. Like, it was funny at first but now it’s all people see me as, and it’s sort of taken over my entire identity and I don’t know how to escape it and it’s like the crabs are eating away […]

    / Jul 7, 2008 at 5:21 PM
  • News

    Jealous Much?

    / Jul 2, 2008 at 4:48 PM
  • News

    George Carlin’s Influence On Tennis Playing Steve Schwarzman

    As you, but not Yahoo!, know, George Carlin died yesterday. In his role as Kennedy Center chair, Steve Schwarzman said of Carlin, who was named the winner of the Mark Twain Prize for American Humor, “…[he] not only made us laugh, but he made us think.” While you might be quick to say, “Obviously not […]

    / Jun 23, 2008 at 1:52 PM
  • News

    Nude Artist Appeals To Wall Street Titans’ Raging Narcissism

    Natasha Archdale is a genius. The London-based artist, who charges up to $30,000 per piece, allows her clients, the majority of whom work in the financial industry, to purport masturbatory feelings for loved ones while craftily hiding their true agenda, that being masturbatory feelings for themselves.

    / Jun 23, 2008 at 12:32 PM

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