Blackstone Magic: Kings of Going Private Think About Going Public

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Is Blackstone going public? It's a story we first heard rumors of from CNBC's Charlie Gasparino. Now David Faber has lots of information about the potential IPO, which is apparently being worked on at Goldman Sachs at this moment.
Some takeaways from Faber's report:
•Blackstone, like much of the private equity industry, was inspired by the success of the Fortress Investment Group IPO, which created several new billionaires.
•It's not just Blackstone. Apollo, KKR and Carlyle may also be considering public offerings.
•The potential value of Blackstone: easily $20 billion.
•Steve Schwarzman's stake: $8 billlion. Of course, he's hardly hurting for cash—taking in compensation of over $500 million, according to Faber—so he's unlikely to sell anything close to that much of his stake in the company.
We've been hearing for months about how private equity was feeling pressure from the press, public attention and possible increased regulatory oversight to change the way it does things. Could "going public" be the next move? If so, as one of our readers points out, might this not herald some sort of renewed age of conglomerates?

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