Blackstone related stories
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LaSalle named global PERE firm of yearLaSalle Investment Management has been voted global firm of the year in the 2008 Global PERE Awards. Colony’s Richard Saltzman takes North American industry figure of the year, while Citi Property Investors win European firm of the year. MGPA take a raft of awards for their Asia operations.
- Blackstone in $3.6bn pharma exit
Twenty months after investing $500m in dermatology company Stiefel, the 162-year-old US company has been sold to GlaxoSmithKline.
- Regulated to death
Smaller firms may be hit hard if forced to register with the SEC, writes Kevin Ley.
- Report: WL Ross remains in race for Satyam
The turnaround firm is reportedly the only private equity group still eyeing India’s Satyam Computer Services.
- Mega-firms mark Freescale down 85%
One of the largest LBOs in history has been drastically written down in value by the majority of its owners, as a legal tussle with lenders erupts over an ‘accordion’ debt facility that greatly favours equity players Blackstone, Carlyle, Permira and TPG.
- FASB relaxes mark-to-market rules
New guidelines announced by the Financial Accounting Standards Board, in response to recent pressure amid increasing write-downs and stock drops, will give GPs more room to maneuver in pricing investments.
- Blackstone refuses to disclose fund performance information
The Blackstone Group refused a request from the US Securities and Exchange Commission for more information on fund performance and bonus compensation, arguing that information about individual IRRs is not 'a meaningful measurement of our results of operations'.
- Geithner plan ‘euphoria’ sends US-listed funds soaring
Fortress shares doubled after the US Treasury outlined plans this week to buy up to $1trn in toxic assets by combining public and private equity. Blackstone and Och-Ziff have also seen their stocks rise.
- Proposed US Treasury rules would increase fund oversight
The US government's moves to gain greater regulatory control over large financial instutions would obligate some private equity firms to register with the SEC and supply data including the names of LPs and leverage levels on deals.
- Bidding for Satyam intensifies
The troubled Indian IT services giant has received ‘adequate response’ from bidders, which reportedly include Blackstone, Carlyle and KKR.