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Blackstone Group LP

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  • NEW YORK, March 18- More than half of the 17 senior managing directors working in Blackstone Group LP's mergers and acquisitions advisory arm may leave as the business is combined with the advisory firm headed by star Wall Street investment banker Paul Taubman, according to people familiar with the matter. Since he left a senior role at Morgan Stanley in 2012 to...

  • NEW YORK, March 16- The Blackstone Group LP agreed on Monday to buy the Willis Tower, the former Sears Tower that for 25 years was the world's largest building, in a deal that features an observation deck as a tourist attraction and unique revenue stream. The 110- story Willis Tower at 233 South Wacker Drive is the second-tallest U.S. office building with 3.8 million...

  • March 12- Shares of cement maker Summit Materials Inc, controlled by Blackstone Group LP, rose as much as 12.5 percent in their trading debut on Thursday, valuing the company at $1.87 billion. The stock opened at $20.16 and touched a high of $20.25, valuing the company at about $1.87 billion. Citigroup and Goldman Sachs& Co are the lead underwriters of the offering.

  • March 12- Shares of Summit Materials Inc, a cement maker controlled by Blackstone Group LP, rose as much as 12.5 percent in their trading debut on Thursday, valuing the company at $1.87 billion. The offering was priced at $18 each, the midpoint of the expected range of $17- $19. Summit Materials' valuation takes into account 92.26 million outstanding shares, if all...

  • March 11- Cement maker Summit Materials Inc's initial public offering was priced at $18 per share, according to a market source, valuing the Blackstone Group- controlled company at $1.67 billion. The company raised about $400 million after its offering of 22.2 million class A shares was priced at the midpoint of the expected range of $17- $19 per share.

  • Summit Materials IPO priced at $18/share - market source Wednesday, 11 Mar 2015 | 5:15 PM ET

    March 11- Cement maker Summit Materials Inc's initial public offering was priced at $18 per share, according to a market source, valuing the Blackstone Group- controlled company at $1.67 billion. The company raised about $400 million after its offering of 22.2 million class A shares was priced at the midpoint of the expected range of $17- $19 per share.

  • DAKAR, March 5- Private equity will play a key role in developing Africa given the massive needs for capital on the continent, says Blackstone Group, which is focusing on infrastructure projects involving power generation and transmission. CEO Steve Schwarzman said he would continue to seek partners like Aliko Dangote-- Africa's richest man, with whom...

  • The Super Bowl of art fairs kicks off in New York City Wednesday, 4 Mar 2015 | 4:43 PM ET
    On right, artwork by Donald Moffett at the Marianne Boesky Gallery

    Wealthy art patrons and collectors gather in New York City to network and buy contemporary artworks

  • Equity firms lending to landlords points to shift Wednesday, 4 Mar 2015 | 6:34 AM ET
    A sign advertising an open house in Corona Del Mar, Calif.

    Three private equity firms are betting that landlord loans will become the next big profit opportunity. The NYT reports.

  • NXP-Freescale merger makes 'true powerhouse': CEO Monday, 2 Mar 2015 | 11:52 AM ET

    NXP's acquisition of Freescale shows that semiconductors are a "consolidating industry," NXP CEO Rick Clemmer said.

  • Who's richer than you? Blackstone's $690M man Saturday, 28 Feb 2015 | 12:27 PM ET
    Steve Schwarzman, co-founder and CEO of Blackstone Group LP at the 2015 WEF in Davos, Switzerland.

    The Blackstone Group paid a bounty last year for its billionaire CEO Stephen Schwarzman, making him stand out on Wall Street.

  • 6 ways to trade the big banks Tuesday, 24 Feb 2015 | 6:53 PM ET
    A sign hangs on One Chase Plaza in lower Manhattan.

    Some CNBC "Fast Money" traders were impressed by JPMorgan Chase's trimming plan, while others saw upside elsewhere in financials.

  • Feb 23- Hedge fund Jana Partners LLC disclosed a 5.9 percent stake in Computer Sciences Corp and said it would continue talks with the IT services company about strategic alternatives and board composition. Computer Sciences stock closed up 7 percent on Monday, valuing the company at about $10 billion. The company had been in talks with private equity firms...

  • U.S. online marketplace for auto loans debuts Monday, 23 Feb 2015 | 2:59 PM ET

    NEW YORK, Feb 23- DriverUp, a U.S. online marketplace that allows hedge funds to invest directly in car loans, launched on Monday with a $50 million investment from venture capital firms. Before starting Sierra in 2012, Ellis founded Exeter Finance Corp, a subprime lender acquired by Blackstone Group LP in 2011.. Consumers took out $105 billion in auto loans in the...

  • Under pressure, European private equity specializes Sunday, 22 Feb 2015 | 4:25 AM ET

    Outgunned by Chinese and Middle Eastern funds and lacking U.S. rivals' breadth, European private equity is narrowing its view to specific industries.

  • Epic battle underway in the private equity world Tuesday, 17 Feb 2015 | 12:23 PM ET
    Steve Schwarzman, co-founder and CEO of Blackstone Group LP at the 2015 WEF in Davos, Switzerland.

    An all-time high of 2,209 private equity funds are currently seeking $811 billion from investors, according to new data.

  • UPDATE 1-Freescale Semiconductor explores sale -source Friday, 13 Feb 2015 | 11:33 AM ET

    The New York Post first reported that Freescale was working with investment banks to explore a sale. Freescale shares were up 8.5 percent at $37.66 in morning trading, giving it a market value of $11.5 billion. Freescale went public in 2011 after it was taken private in 2006 for $17.6 billion in a leveraged buyout by a group of private equity firms that included...

  • Feb 13- Chip maker Freescale Semiconductor has hired investment bankers to explore a possible sale, the New York Post reported, citing a source familiar with the situation. Last month, Bloomberg reported that Samsung Electronics may consider buying Freescale, which makes chips used in automobiles, consumer products, telecommunications infrastructure and...

  • Private equity firms scramble to hire young bankers Wednesday, 11 Feb 2015 | 7:29 AM ET
    Businessman giving money

    They are only in their 20s, but some Wall Street bankers are the most sought-after around, with lucrative pay packages dangling before them.

  • China's aging population has this sector booming Tuesday, 10 Feb 2015 | 6:23 PM ET

    Investors are rushing into China's booming healthcare business as the country prepares to cater to hundreds of millions of elderly patients.