Reports that private equity group Blackstone is working intensively on an initial public offering of up to 10% of the firm continue to tantalise market watchers. It has been estimated that a public offering could value Blackstone at more than $20 bn. Yet, Stephen Schwarzman, Blackstone's ceo, is on record as promoting the merits of staying private. His company has spent some $160 bn in the last two decades to take companies to revamp them and later sell them at a profit. Back in February, Blackstone acquired Equity Office, the largest office landlord in the US, for a record $38.9 bn in the largest real estate deal in history.
Reports that private equity group Blackstone is working intensively on an initial public offering of up to 10% of the firm continue to tantalise market watchers. It has been estimated that a public offering could value Blackstone at more than $20 bn. Yet, Stephen Schwarzman, Blackstone's ceo, is on record as promoting the merits of staying private. His company has spent some $160 bn in the last two decades to take companies to revamp them and later sell them at a profit. Back in February, Blackstone acquired Equity Office, the largest office landlord in the US, for a record $38.9 bn in the largest real estate deal in history.
Some of Blackstone's peers are said to be concerned that a Blackstone IPO could help shed an intrusive and unwelcome light on the workings of private equity firms, and their fee schedules in particular. Blackstone has yet to comment on the media speculation about a possible IPO.
