Blackstone Group LP, the world’s biggest manager of alternative assets such as private equity and real estate, said first-quarter profit rose 30 percent as the carrying value of its holdings increased and it collected more fees.
Carlyle Group LP, the world’s second-biggest manager of alternative assets such as private equity and real estate, hired Jeff Holland as head of the private client group in a push to expand its base of individual investors.
Seven years after selling shares to the public at the height of the buyout boom and then watching them slump, Stephen Schwarzman’s Blackstone Group LP is rewarding investors with the top gains among money managers.
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.
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.
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?