A day after two US senators unveiled proposed legislation to hike taxes for public partnerships, the share price of Fortress Investment has dropped. But one Washington observer put the likelihood that the Blackstone-inspired bill will become law at ‘one percent’.
1 min read · 04 January 2013
Two powerful committee chairmen are backing a bill intended to scrap the low, 15 percent capital-gains tax treatment of GP carried interest in the US. The member behind the bill says the current tax regime on carry is unfair.
3 min read · 04 January 2013
Twin Bridge Capital Partners, a Chicago middle-market buyout fund of funds with a focus on co-investment, has hired two PPM America executives.
1 min read · 04 January 2013
The Blackstone Group has priced its IPO at $4.133bn – the top of an expected range. Shares with the ticker symbol BX are expected to begin trading on Friday.
1 min read · 04 January 2013
Two powerful committee chairmen are backing a bill intended to scrap the low, 15 percent capital-gains tax treatment of GP carried interest in the US. The member behind the bill says the current tax regime on carry is unfair.
3 min read · 04 January 2013
Concerned by the upcoming Blackstone IPO structure, the US Senate Finance Committee today introduced legislation that, if made law, would prevent alternative investment firms from claiming partnership tax structures when going public. The proposed change would not affect Blackstone for five years, but, according to a legal source: ‘Everyone else gets hosed’.
3 min read · 04 January 2013
Shares in Blackstone closed today on the New York Stock Exchange, up 13 percent to $35 per share. The first-day trading values Stephen Schwarzman’s interest in the firm he co-founded at $8.5bn.
1 min read · 04 January 2013
The global private equity giant is on the road now with a new fund that will attempt to close on substantially more than its previous $8 billion vehicle.
2 min read · 04 January 2013
Concerned by the upcoming Blackstone IPO structure, the US Senate Finance Committee today introduced legislation that, if made law, would prevent alternative investment firms from claiming partnership tax structures when going public. The proposed change would not affect Blackstone for five years, but, according to a legal source: ‘Everyone else gets hosed’.
3 min read · 04 January 2013
Alinda Capital, a firm led by the former head of project finance at Citigroup, has raised three times more than originally sought for a debut infrastructure fund, the ‘first in a series of infrastructure funds’.
2 min read · 04 January 2013
