The Bird's Nest Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Bird's Nest

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: clutterer	2/27/2009 1:43:23 PM
	of 15232

Blackstone Rises as Schwarzman Reassures Investors (Update1) Email \| Print \| A A A By Jason Kelly Feb. 27 (Bloomberg) -- Blackstone Group LP gained the most in more than three months as Chairman Stephen Schwarzman stressed the ability of the world’s biggest private-equity firm to protect its existing holdings and invest in new deals. Blackstone rose 73 cents, or 19 percent, to $4.60 at 12:56 p.m. in New York Stock Exchange trading. Schwarzman made the comments on a conference call after the New York-based firm reported an $827.1 million loss for its fourth quarter. While Blackstone marked down the value of its private-equity holdings by 20 percent in the fourth quarter, holdings included Hilton Hotels Corp. boosted profit, Schwarzman said on the call. Blackstone is reducing the debt held by some of its portfolio companies, and Schwarzman said the firm has about $13 billion in private-equity funds available to invest when appropriate. “It shows the power of what we actually do for a living,” Schwarzman, 62, said on the call. “We have substantial dry powder in all of our funds at a time when many of our competitors are impaired.”

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next