Blackstone related stories
All articles and analysis
Macquarie Capital hires Blackstone IPO adviserRobert Redmond, who also advised on the private equity buyouts of First Data Corp and TXU, will join as vice chairman to build its North American operations. It comes as parent Macquarie Group initiated a second round of global staff cuts, which have hit Macquarie Capital hardest.
- Florida commits $1.1bn to private equity
The $97bn pension, which has seen the value of its assets plunge by about $30bn since last summer, increased its upper limit allocation ceiling to the asset class to 7 percent from 5 percent in December to alleviate over-weighting.
- Moody's downgrades Clear Channel debt to junk
The US radio and advertising company, which was purchased by Bain Capital Partners and TH Lee last year in a $17.9bn deal, had its rating fall to deeply speculative territory, with Moody’s warning of default.
- Blackstone appoints former French ambassador as senior advisor
The New York-based private equity firm’s hiring of Gerard Errera, following a wave of layoffs in December, is intended to bolster its transactions in France. Errera served as the secretary general of the French Ministry of Foreign Affairs and the French ambassador to the UK.
- Blackstone Fund VI raises $8bn
The New York-based private equity firm’s latest fundraising efforts bring Blackstone’s total dry powder for private equity to $13bn. Reporting a $193.6m fourth quarter loss, Blackstone said it remains focused on investing in non-cyclical industries.
- Blackstone eyes debt and rescue financing
The private equity firm has said it is looking at select investment opportunities 'in areas that have already hit bottom', such as rescue financing for the retail sector, while it waits for the resurgence of its core areas of focus, private equity and real estate.
- Schwarzman: Secondaries pricing ‘artificially’ low
Blackstone’s CEO and co-founder Stephen Schwarzman also said in an earnings call earlier last week that 'to our knowledge' no Blackstone private equity fund interest has been sold on the secondaries market.
- Apax sells minority stake to GIC, Future Fund
None of the sale's proceeds have been used to cash out Apax GPs, but rather will be re-invested in a permanent capital vehicle that will invest in Apax funds.
- Mega-firms embrace socially responsible investing
Some of the world’s biggest private equity firms – including KKR, Blackstone, Carlyle, Permira, Providence, Apax and Apollo – have committed to consider environmental, social and corporate governance issues when making investments.
- TPG halts stake sale talks with LPs
Valuation difficulties have prompted the Texas-based mega-firm to cease talks that began more than a year ago with the Kuwait Investment Authority and two California pensions over the potential sale of a single digit stake in its management company.