Blackstone related stories
All articles and analysis
US Senate bemused by Blackstone ‘pretending’(3)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’.
- Stirling Square bolts on Austrian firm to 3SI
Stirling Square Capital Partners, a mid-market buyout firm backed by Citigroup, has moved to consolidate the financial security market by making a European bolt-on acquisition for portfolio company 3SI Security Systems.
- Blackstone post-IPO trading values firm at $37bn(2)
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.
- Blackstone considers $400m China petrochemical deal(3)
The Blackstone Group is said to be mulling a $400 million investment in China’s largest petrochemicals company. The news follows a disappointing NYSE debut for Blackstone’s management company, in which the Chinese government invested $3 billion.
- American Capital goes Hollywood with $100m film vehicle
The publicly listed alternative asset manager will break into the movie business with a $100 million commitment to Oceana Media Finance, which provides financing for independent films.
- Blackstone makes senior real estate hire(3)
Former Merrill Lynch property pro Michael Nash has joined Blackstone as a senior managing director in the firm’s real estate group.
- Blackstone names head of public market activities(2)
Joan Solotar, previously managing director and director of equity research at Bank of America Securities, will manage relations with Blackstone’s public investors.
- Three Delta ups stake in Sainsbury’s to 25%
The investment vehicle of Qatari property investment fund Three Delta has upped its stake in Sainsburys. The FTSE 100 listed UK supermarket’s shares leapt by nearly 5 percent, as speculation suggested a takeover bid was forthcoming.
- Blackstone names head of public market activities
Joan Solotar, previously managing director and director of equity research at Bank of America Securities, will manage relations with Blackstone’s public investors.
- Injaz Mena makes bumper return on electronic payments firm(2)
Injaz Mena, an investment company based in the United Arab Emirates, made a 63 percent return in 14 months from its investment in Frankfurt-listed electronic payments company Smarttrac, demonstrating why there has been so much private equity interest in the sector.