Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, March 23, 2007

Blackstone Files Prospectus for IPO

The Blackstone Group, the largest private equity firm, filed its preliminary prospectus yesterday for its IPO offering investors 10% of the equity in the management company, which had $2.3 billion in profits last year.  Shareholders would have limited voting rights, would not elect management, and decisions would be made to favor the limited partners.  The private equity business has $31.1 billion in assets under management, and returns of 30.8%.  The prospectus reportedly did not offer much detail about the compensation of the principals   See NYTimes, Blackstone Says It Plans to Go Public ;  WSJ, Blackstone Aims To Keep Control As Public Entity.

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