Blackstone Group news stories on Newser

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

John Johnson — Fri, 02 Jan 2009 12:31:01 CST

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 breath....

Schwarzman Weighs In on Market Reforms

Clay Dillow — Tue, 04 Nov 2008 10:46:32 CST

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 global accounting principles,...

Hedge Funds Poised to Profit as Banks Shun Risk

Clay Dillow — Tue, 23 Sep 2008 13:05:29 CDT

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...

Lehman Shops Key Unit in Quest for Cash

Clay Dillow — Tue, 19 Aug 2008 08:50:01 CDT

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, has...

Weather Channel Sells for $3.5B

Jim O'Neill — Mon, 07 Jul 2008 06:25:46 CDT

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...

Landmark NY Library to Be Renamed for Donor

Peter Fearon — Tue, 11 Mar 2008 03:30:00 CDT

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,...

PHH Deal Collapses After Banks Back Off

Jim O'Neill — Wed, 02 Jan 2008 07:27:27 CST

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...

Chinese Pension Fund Considers US Private Equity Deals

Jim O'Neill — Tue, 30 Oct 2007 09:25:00 CDT

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’s Social...

Congress Drops Tax Hike for Private Equity

Peter Fearon — Tue, 09 Oct 2007 12:39:29 CDT

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—...