April 17, 2014
Only Amar’e Stoudemire could beat Christine Schwarzman, wife of Blackstone founder Steve Schwarzman, in a bidding war. The wealthy rivals went head-to-head at Tuesday’s Henry Street Settlement benefit at the Plaza Hotel for a visit to the Chanel-owned Château Rauzan-Ségla, a winery in the Bordeaux region of France. The fierce bidding ended with Stoudemire winning at $17,000. The two hugged in the end before organizers agreed that both could score a visit for $17,000 apiece. (via Amar’e Stoudemire bids big for French wine tour | Page Six)

Only Amar’e Stoudemire could beat Christine Schwarzman, wife of Blackstone founder Steve Schwarzman, in a bidding war. The wealthy rivals went head-to-head at Tuesday’s Henry Street Settlement benefit at the Plaza Hotel for a visit to the Chanel-owned Château Rauzan-Ségla, a winery in the Bordeaux region of France. The fierce bidding ended with Stoudemire winning at $17,000. The two hugged in the end before organizers agreed that both could score a visit for $17,000 apiece. (via Amar’e Stoudemire bids big for French wine tour | Page Six)

April 14, 2014

jmventre:

SeaWorld’s Owner (Blackfish CEO) Steven Schwarzman blames Dawn Brancheau for her own death, on National Television. CNBC. He says she committed safety violations. 

This story is being picked up by the Orlando Sentinel. 

April 13, 2014
Steve Schwarzman and Tsinghua University Team Up

mkratsios:

The private-equity tycoon Stephen A. Schwarzman, backed by an array of mostly Western blue-chip companies with interests in China, is creating a $300 million scholarship for study in China that he hopes will rival the Rhodes scholarship in prestige and influence.

The program, whose endowment represents one of the largest single gifts to education in the world and one of the largest philanthropic gifts ever in China, was announced by Mr. Schwarzman in Beijing on Sunday.

Very excited to see how this develops. Tsinghua is where I taught and researched in 2010.

April 12, 2014
"Traditional asset managers are on average still trading at a 50% premium to us, despite the fact that we’ve grown AUM at a 28% rate over the past three years… versus the traditional managers at only 7%. In other words, four times their rate."

— Stephen Schwarzman, Blackstone CEO, Q4 Earnings Call (via scopewealth)

April 11, 2014

editedchina:

image

Rhodes East: Why is the Schwarzman Scholarship in China?The New Yorker, 26 April, 2013.

Evan Osnos sat down with Schwarzman before last week’s big announcement. Long answer short:

Read More

April 10, 2014
FORTUNE — Investors are confident that whoever will be running Blackstone in 2044 will be doing so capably. If that person takes the helm at the giant alternative asset manager at the same age founder Steve Schwarzman started the firm in 1985, he or she is currently rounding out second grade. Indeed, public investors in the 30-year bond market must have strong confidence in the firm’s succession plans. They lapped up a $500 million offering from Blackstone earlier this week at a 5% yield. It is a deal that speaks volumes about the private equity business — and the bond market as well. Private equity deals had once been the bread and butter of firms like Blackstone (BX). After Schwarzman took the firm public in 2007 (in a noisy public offering that made him and some colleagues instant billionaires), Blackstone used its public currency to grow quickly. Its real estate business now trumps its buyout group, as does its alternative asset management group, and a very large and growing credit business thanks, in part to the acquisition of hedge fund GSO, which Blackstone bought using its stock in 2008. Blackstone also has a top advisory practice that is chugging along. It is even making headway in being one of the first to successfully offer alternative investments for retail investors through Fidelity. (via Bond investors bet on the ghost of Blackstone CEO future - Term Sheet)

FORTUNE — Investors are confident that whoever will be running Blackstone in 2044 will be doing so capably. If that person takes the helm at the giant alternative asset manager at the same age founder Steve Schwarzman started the firm in 1985, he or she is currently rounding out second grade. Indeed, public investors in the 30-year bond market must have strong confidence in the firm’s succession plans. They lapped up a $500 million offering from Blackstone earlier this week at a 5% yield. It is a deal that speaks volumes about the private equity business — and the bond market as well. Private equity deals had once been the bread and butter of firms like Blackstone (BX). After Schwarzman took the firm public in 2007 (in a noisy public offering that made him and some colleagues instant billionaires), Blackstone used its public currency to grow quickly. Its real estate business now trumps its buyout group, as does its alternative asset management group, and a very large and growing credit business thanks, in part to the acquisition of hedge fund GSO, which Blackstone bought using its stock in 2008. Blackstone also has a top advisory practice that is chugging along. It is even making headway in being one of the first to successfully offer alternative investments for retail investors through Fidelity. (via Bond investors bet on the ghost of Blackstone CEO future - Term Sheet)

April 10, 2014
Stephen Schwarzman just loves visiting Washington. That’s about all the chairman, CEO and co-founder of private-equity firm Blackstone Group BX  0.05% would tell MarketWatch on Wednesday after being spotted on the Senate side of the Capitol. Schwarzman was being shown around by Sen. John McCain, an Arizona Republican to whom the CEO has donated in the past. Schwarzman, who backed McCain’s presidential bid in 2008, has given $5,200 to the Arizona senator for the 2014 election cycle, according to the Center for Responsive Politics. McCain said Schwarzman “was in town and he asked to have lunch,” but was similarly tight-lipped about what the two men discussed. Schwarzman wouldn’t answer a question about proposals in Washington to tax private-equity profits at a higher rate – something both President Barack Obama and House Ways and Means Committee Chairman Dave Camp have both proposed to do. Could Schwarzman be gearing up to support McCain again? McCain hasn’t said if he’ll run for Senate again in 2016 but is set to headline an April 24 fundraiser at a Phoenix hotel in April, the Arizona Republic reported last month. (via Spotted: Blackstone CEO Stephen Schwarzman meets with John McCain - Capitol Report - MarketWatch)

Stephen Schwarzman just loves visiting Washington. That’s about all the chairman, CEO and co-founder of private-equity firm Blackstone Group BX 0.05% would tell MarketWatch on Wednesday after being spotted on the Senate side of the Capitol. Schwarzman was being shown around by Sen. John McCain, an Arizona Republican to whom the CEO has donated in the past. Schwarzman, who backed McCain’s presidential bid in 2008, has given $5,200 to the Arizona senator for the 2014 election cycle, according to the Center for Responsive Politics. McCain said Schwarzman “was in town and he asked to have lunch,” but was similarly tight-lipped about what the two men discussed. Schwarzman wouldn’t answer a question about proposals in Washington to tax private-equity profits at a higher rate – something both President Barack Obama and House Ways and Means Committee Chairman Dave Camp have both proposed to do. Could Schwarzman be gearing up to support McCain again? McCain hasn’t said if he’ll run for Senate again in 2016 but is set to headline an April 24 fundraiser at a Phoenix hotel in April, the Arizona Republic reported last month. (via Spotted: Blackstone CEO Stephen Schwarzman meets with John McCain - Capitol Report - MarketWatch)

April 10, 2014
kubimichael:

Blackstone, the world’s largest private equity firm, is to buy a majority stake in Accuvant.
Accuvant is a 12-year-old company that offers cyber-security software and consulting services to companies and governments. 
The financial terms of the deal were not disclosed.

kubimichael:

Blackstone, the world’s largest private equity firm, is to buy a majority stake in Accuvant.

Accuvant is a 12-year-old company that offers cyber-security software and consulting services to companies and governments. 

The financial terms of the deal were not disclosed.

April 10, 2014
kubimichael:

Reuters claims that asset management firm Blackstone Group is in final negotiations to acquire industrial conglomerate Gates Global Inc from private equity firm Onex Corp the Canada Pension Plan Investment Board (CPPIB).
The deal is said to be worth over $5.5bn. If it sails through, it could rank among the largest leveraged buyouts in 2014. Blackstone had initially teamed up with buyout firm TPG Capital Management for the said deal, but the latter has opted out due to the price.

kubimichael:

Reuters claims that asset management firm Blackstone Group is in final negotiations to acquire industrial conglomerate Gates Global Inc from private equity firm Onex Corp the Canada Pension Plan Investment Board (CPPIB).

The deal is said to be worth over $5.5bn. If it sails through, it could rank among the largest leveraged buyouts in 2014. Blackstone had initially teamed up with buyout firm TPG Capital Management for the said deal, but the latter has opted out due to the price.

March 27, 2014

Blackstone Group has poured billions into real estate in the past few years, but the U.S. housing market has lost its “big pop” as an investment option, CEO Stephen Schwarzman told CNBC on Wednesday. During an interview on “Squawk Box,” Schwarzman said home prices price in some markets spiked as much as 20 percent in recent years but now investment returns on home prices have settled somewhere between 5 and 10 percent. “That’s just great, but it doesn’t justify us buying at the same rate,” said Schwarzman, whose firm has bought $7 billion to $9 billion worth of individual homes, (via Housing loses its ‘big pop’: Blackstone’s Schwarzman)

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