Here we go, straight from the SEC filing: Why We Are Going Public We have decided to become a public company: • to access new sources of permanent capital that we can use to invest in our existing businesses, to expand into complementary new businesses and to further strengthen our development as an enduring institution; [...]
Blackstone has turned its S-1 (its IPO filing) into the SEC, and thanks to the magic of the Internets it’s already up and available for perusal by all. Here’s the first interesting thing I’ve learned: Its corporate private equity funds have earned investors 22.8% a year, after fees, since 1987. For “real estate opportunity,” around [...]
Well, this is pretty interesting. From the Los Angeles Times, which broke the story: News Corp. and NBC Universal plan to announce as soon as today that they are creating an online video site stocked with TV shows and movies, plus clips that users can modify and share with friends, according to people close to [...]
The other day I was honored to receive the first-ever Maxwell Smart Prize for Mediocrity in Financial Journalism, from the private-equity blog Going Private. The citation declared that my offense was the sentence (regarding the Blackstone Group’s rumored IPO): It does nicely underscore the basic truth of the private equity business, which is that without [...]
