Recent buyout fundraising: $23 billion
Description: Since opening its doors with $400,000 in 1985, Blackstone has become known for sharp elbows and sharper deals. Witness its $3.8 billion buyout of Celanese in 2004: The firm put in $650 million in equity and almost immediately recouped $500 million with a junkbond offering. Or the way it unloaded $13 billion worth of buildings in its recent $38.9 billion buyout of Equity Office Partners before the ink was dry on the deal. As a hedge against a cyclical downturn in private equity, co-founder and CEO Steve A. Schwarzman has diversified the firm into hedge funds, distressed debt, asset management, and oh, yes, real estate. Moreover, the 60-year-old designated CSFB alum Hamilton "Tony" James president and his de facto successor in 2004.
Boldface advisors: Former Treasury Secretary Paul O'Neill.
Fun Fact: Co-founder Pete Peterson counts Alan Greenspan and Henry Kravis as golf buddies.
|
|
|
|
 What happens inside the exclusive enclave of private equity is roiling the economy in a way that it never has before. (more)  With a history-making deal and a headline-making birthday party, Steve Schwarzman has become the symbol of a new era in finance. (more) |
© 2008 Cable News Network. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Privacy Policy
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
| Copyright © 2008 BigCharts.com Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. All Times are ET. Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use. Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data. Fundamental data provided by Hemscott. SEC Filings data provided by Edgar Online Inc.. Earnings data provided by FactSet CallStreet, LLC. |
