The top 10 dealmakers at publicly traded private-equity firms took home at least $1.7 billion in dividends in 2013 as they seized on rallying stock markets to sell stakes in everything from a Chinese insurer to a U.S. theme-park operator to a French floormaker.
When Larry Robbins was a boy in the Chicago suburbs, his father, Sheldon, worked two jobs and wasn’t around much. If the young Robbins wanted to see him on weekends, he had to travel to Arlington Park, a nearby horse-racing track that his dad ran. During those Saturday visits, his father taught him how to handicap horses. One lesson: Know the horse and the race. Was the track dry or muddy? Did the horse win because he was fast or because the competition was lousy?
Stephen Schwarzman, founder of the world’s biggest private-equity firm, said U.S. President Barack Obama’s engagement with China’s new government is laying the groundwork for improved economic and military ties between the two nations.
Stephen Schwarzman, chief executive officer of Blackstone Group LP, said China offers good long-term opportunities because of the government’s economic management, after a recent economic slowdown proved milder than many analysts had forecast.