Blackstone related stories
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China to raise stake in BlackstoneThe publicly listed private equity firm, battered by the public markets, has increased the stake the Chinese sovereign wealth fund can own in the firm from 9.99 percent to 12.5 percent.
- Private equity buyouts decrease, shrink in size in 2008
Difficult financing conditions continued to soften global buyout activity for private equity firms, with deal volumes plunging 72 percent in the first nine months of 2008. The oil and gas and mining sectors as well as Japan, India and the Middle East remained bright spots.
- Blackstone market cap now larger than Lehman’s
The firm that Stephen Schwarzman and Peter Peterson left in 1985 has crumbled to a roughly $3bn market capitalization, versus Blackstone’s $4bn. It follows moves to spin off its $30bn commercial real estate exposure and sell a 55 percent stake in its PE and RE arms.
- TPG loses remaining $1.3bn stake in WaMu collapse
The biggest bank failure in US history is also one of the biggest publicly disclosed private equity losses in history. TPG has stressed that the investment represented only a small portion of its diversified assets.
- Report: WaMu seeks private equity buyers
The ailing savings and loan had previously sought to be taken over by banking giants JPMorgan and Citi, but as such talks have not yet resulted in any deal, the bank is reportedly seeking a deal with Blackstone or Carlyle.
- TPG closes $19.8bn global buyout fund
The mega-buyout firm has also closed its distressed financial services fund with roughly $6bn in commitments, and rounded up roughly $4bn for the final close of its Asian fund.
- Recession-proof retail?
Recent deals and proprietary PEI research show the asset class continues to bet on pockets of the retail sector, despite gloomy consumer confidence, writes Suzanne Weinstock.
- Report: JC Flowers, China, BofA join for Lehman
The financial services private equity firm is working with China's sovereign wealth fund and the major US bank on a joint bid, according to a report from the Financial Times.
- UK media group rejects reduced £1.9bn bid
The reduced takeover offer for Informa, publisher of Lloyd's List, by Providence Equity Partners, The Carlyle Group and The Blackstone Group has come after a shake-up in the original consortium that offered £2.15bn for the company in late June.
- Babcock considers buy-back of second satellite fund
The beleaguered Australian infrastructure specialist is reviewing Babcock & Brown Capital, a move that follows its purchase of another satellite fund’s management rights and highlights the difficulties the satellite fund model has faced in the wake of the global credit crisis.