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Mar 22, 2007
Blackstone Group to go Public
The Blackstone Group started in 1985 with a staff of four that included its two founders, Peter G. Peterson and Stephen A Schwarzman who put up $200,000 each to start the company.
They have been very secretive about their returns but reports say since its inception in 1987:
- The flagship corporate private equity portfolio returned 30.8% annually
- Their real estate portfolio returned 38.2% since 1991.
- Investments in funds of hedge funds have returned 13%
- Investments in funds of mezzanine debt have returned 16%
Web site http://www.blackstone.com
From the web site,
- Since 1985, without deviating from Blackstone's core beliefs, the firm has raised more than $64 billion for alternative asset investing across its Private Equity, Real Estate, Corporate Debt, Distressed Debt, and Marketable Alternative Investments groups. The Corporate Advisory Services and Restructuring & Reorganization Advisory Services businesses have handled assignments valued at over $550 billion.
- Through June 30, 2006, Blackstone had invested total capital of $24.1 billion in 318 transactions with a total enterprise value of over $198 billion through its Private Equity, Real Estate, and Mezzanine funds and over $5.1 billion across 439 different senior loan and other debt instruments through its Corporate Debt funds.
More about the deal
- Morgan Stanley and Citigroup will be the lead underwriters
- Blackstone says it will list its shares on the New York Stock Exchange
Kirk Lindstrom: Disclaimers: Answers & my words are general in nature, are not meant as specific investment advice, and do not necessarily represent the opinion of anyone but Kirk.
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