News for Blackstone
Feb 25 · 9:35:00 AM · Source: Bloomberg
Feb. 25 (Bloomberg) -- Blackstone Group LP, the world’s biggest private-equity company, reported fourth-quarter profit of $329.4 million as it resumed deal-making and marked up the value of companies it owns.....“We believe the worst is behind us,” Stephen Schwarzman, Blackstone’s 63-year-old chairman and chief executive officer, said in a statement.....
I believe, as does the market (Blackstone shares closed yesterday at $14, less than half their June 2007 IPO price of $31) that while the worst may indeed be behind us, as Mr. Schwarzman says, Blackstone still has their work cut out for them. They have 8 companies laying in the IPO wings, paying down the debt is crucial for Blackstone, and investors are anxious to see some return on their investments. It will be interesting to watch the path of these eight, market conditions will certainly have to improve form them to come public.
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by Jerry Byrne
Oct 14 · 10:46:00 AM · Source: CNBC
Blackstone CEO Stephen Schwarzman sees industry improvement going forward.
Schwarzman sees dealflow and IPO investments opening up. During a speech at the Super Return Middle East private equity conference in Dubai he was quoted as saying, “We've all been through a trying period. We’re seeing more than green shoots of recovery, though the scale of economic growth through next year is still unclear.
We do not expect the U.S. economy to slip back into recession, but we do believe that weak consumer spending and continued constraints on bank lending will dampen the U.S. economic recovery in 2010 and 2011."
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by Michael Oliveto
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