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The year in private equity

What started out as a banner year for buyout deals quickly soured when the credit crisis hit. A look at the biggest stories of the year, and what's in store for 2008.

Big bucks for Blackstone
Fortune Magazine dubbed Blackstone's Steve Schwarzman "The new king of Wall Street" in the spring.
Big bucks for Blackstone
The Blackstone Group goes public on the New York Stock Exchange. The $4 billion IPO gives retail investors the chance to buy into one of the titans of private equity.

Investors - including the Chinese government, which buys a $3 billion stake in the firm ahead of the offering - flock to the deal.

Shares surge 13 percent on their first day of trading. But some observers wonder whether savvy players like Blackstone chief Steve Schwarzman are cashing in before the market turns.

Jan.

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March

April

May

June

July

Aug.

Sept.

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Dec.