Hotel giant preps return to public markets.
FORTUNE -- Hilton Worldwide was the last mega-buyout to be announced before the 2008 credit crunch and ensuing financial crisis. This morning it announced plans to return to the public markets.
Hilton has filed registration documents for a $1.25 billion IPO, with Deutsche Bank (DB), Goldman Sachs (GS), BoA Merrill Lynch (BAC) and Morgan Stanley (MS) listed as lead underwriters. It did not publicly disclose MOREDan Primack - Sep 12, 2013 8:12 AM ET
Blackstone president plays down new general solicitation rules.
FORTUNE -- The Blackstone Group isn't planning to advertise its new funds anytime soon, according to firm president Tony James.
Speaking during a media call for the firm's second quarter earnings, James responded to a question from Fortune about the SEC's recent decision to end the decades-old ban on "general solicitation" for Rule 506 offerings -- an umbrella that usually covers hedge, private equity MOREDan Primack - Jul 18, 2013 11:31 AM ET
The Blackstone Group reports another strong quarter.
FORTUNE -- The Blackstone Group (BX) this morning crushed analyst expectations, reporting $703 million of economic net income for the second quarter. That works out to $0.62 per share, compared to expectations of around $0.52 per share. Blackstone reported earnings of just $0.19 per share in the year-earlier period.
Total revenue climbed from $644 million in Q2 2012 to $1.4 billion in Q2 2013, of MOREDan Primack - Jul 18, 2013 7:12 AM ET
Private equity giant steps up for military veterans.
FORTUNE -- Here's something I don't say too often: Thank you Steve Schwarzman.
This morning, The Blackstone Group (BX) announced a commitment to hire 50,000 U.S. military veterans over the next five years, across its portfolio companies. This is part of the broader Joining Forces initiative led by Michelle Obama and Jill Biden (who discuss their efforts here).
Blackstone CEO Schwarzman tells me that the MOREDan Primack - Apr 30, 2013 10:57 AM ET
Big private equity firms are offering diversified products, but one size may not fit all investors.
FORTUNE -- One year ago I recommended that you buy stock in publicly-traded private equity firms, like Apollo Global Management (APO) and The Carlyle Group (CG). My theory was that such issuers were being undervalued by analysts who obsessed over assets under management (i.e., fund management fees), while paying too little attention to underlying portfolio MOREDan Primack - Apr 29, 2013 2:26 PM ET
A major discrepancy emerges in Dell timeline.
FORTUNE -- When The Blackstone Group ended its pursuit of Dell Inc. last night, on of the reasons it cited was the PC maker's "rapidly eroding financial profile." Specifically, that Dell had "revised its operating income projections for the current year to $3.0 billion from $3.7 billion."
What Blackstone (BX) is talking about is referenced in Dell's (DELL) preliminary proxy statement, dated March 25. It MOREDan Primack - Apr 19, 2013 11:29 AM ET
Blackstone ends its pursuit of the PC maker.
FORTUNE -- The Blackstone Group (BX) is ending its pursuit of Dell Inc. (DELL) without formally submitting a superior offer to the $24.4 billion bid made earlier this year by company founder Michael Dell and private equity firm Silver Lake Partners.
The Wall Street Journal first reported the news earlier this evening, and it has been independently confirmed with multiple sources by Fortune. We also MOREDan Primack - Apr 18, 2013 10:14 PM ET
Blackstone reports earnings.
FORTUNE -- The Blackstone Group this morning reported 55 cents in net economic income for Q1, beating analyst estimates of 53 cents per share.
Some takeaways, from both the earnings report and a subsequent media call with Blackstone (BX) president Tony James:
1. Slow investment quarter on the private equity side, with just $325 million committed/invested.
2. Private equity portfolio carrying values climbed 7.9% quarter-over-quarter, and 18.2% over 12 months.
3. Private MOREDan Primack - Apr 18, 2013 1:11 PM ET
Dell does not yet have any "superior offers."
FORTUNE -- Southeastern Asset Management today sent a letter to Dell's board of directors, again expressing its opposition to the proposed $13.65 per share buyout by Michael Dell and Silver Lake Partners. And again it was worth reading, if for no other reason than that SAM is Dell's (DELL) largest outside shareholder.
Here was the new part that caught my eye:
The Special Committee has obtained two MOREDan Primack - Apr 9, 2013 12:15 PM ET
Dell's top comp is having a tough day. Could it affect the final buyout price?
FORTUNE -- Yesterday I spoke with a banker who insisted that Michael Dell and Silver Lake Partners would never get their Dell (DELL) buyout done at $13.65 per share. He felt that the market had changed too much since the offer was accepted by Dell's board, as evidenced by Hewlett-Packard's (HPQ) stock surge over the past MOREDan Primack - Apr 2, 2013 1:39 PM ET
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