Tuesday, March 11, 2008
The reversals of fortune for private equity firm continue to confound, as The Blackstone Group (which, you will remember went public just last year)announced an 89% earnings drop for the last quarter in 2007 and Carlyle Capital may be close to insolvency. NYTimes, Buyout Industry Staggers Under Weight of Debt . However, Blackstone's Steven A. Schwarzman still has $100 million to give to the New York Public Library in exchange for naming rights. NYTimes, A $100 Million Donation to the N.Y. Public Library.