Blackstone Group

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The Blackstone Group Inc.

logo
legal form Corporation
ISIN US09260D1072
founding 1985
Seat New York City , United StatesUnited StatesUnited States 
management Stephen A. Schwarzman (Chairman & CEO)
Jonathan D. Gray (President & COO)
Number of employees 2,190 (2014)
sales 7 billion US dollars (2017)
Branch Private equity
Website blackstone.com

The Blackstone Group Inc. is a publicly traded US investment company headquartered in New York City . The company is one of the world's largest investors in alternative investments . The company's fields of activity include real estate transactions , private equity , as well as credit and hedge fund strategies.

The assets under management (AUM) at March 31, 2020 538 billion US dollars. In April 2019, Blackstone announced that it was moving from a publicly traded partnership to a corporation .

Company profile

The Blackstone Group has offices in New York ( 345 Park Avenue ), Atlanta , Boston , Chicago , Dallas , Düsseldorf , Hong Kong , Houston , London , Los Angeles , Menlo Park , Mumbai , Paris , San Francisco and Tokyo .

The company is divided into four business areas: Corporate Private Equity , Real Estate , Marketable Alternative Asset Management and Financial Advisory .

GSO Capital is the Blackstone Group's subsidiary in the field of credit-oriented asset management.

The company's founder Stephen A. Schwarzman , who is also Chief Executive Officer , chairs the Supervisory Board .

Known holdings of the Blackstone Group (as of April 2016):

According to its own information, Blackstone plans to do more business in Europe. Roland Berger (as Chairman of Blackstone Germany) and Ron Sommer are therefore represented on the company's “International Advisory Board” .

history

The following important information is missing from this article or section:
The history from 1985 to 2004, as well as the activities outside the DACH area are missing.
Help Wikipedia by researching and pasting it .

Peter George Peterson
Stephen A. Schwarzman

The company was founded in 1985 by former US Secretary of Commerce Peter George Peterson , who retired in 2008, and Stephen A. Schwarzman .

In 1988, BlackRock , which initially specialized in mortgage deals and fixed-income investments, was founded as a subsidiary. However, this split off from Blackstone in 1994 after developing into an asset manager.

At the end of 2004, the company took over 31,000 apartments from the WCM holding company for 1.4 billion euros. It concerned the housing stock of the Kiel housing association with 9500 apartments. There are also 3800 apartments in Wuppertal, 5800 in the Mönchengladbach region and 500 in other regions.

At the end of April 2006 Blackstone acquired a 4.6 percent stake in Deutsche Telekom from the state-owned Kreditanstalt für Wiederaufbau (KfW), which holds a further 17.5 percent in Telekom, for EUR 2.68 billion . Blackstone pledged to hold the shares for at least two years.

On November 19, 2006, a takeover agreement was signed between Blackstone and the American real estate company Equity Office Properties . The transaction should have a volume of 36 billion US dollars. In February 2007, the largest ever leveraged acquisition including debt for $ 39 billion came about.

Against resistance from the US Senate, the Blackstone Group went public on June 22, 2007 at an issue price of US $ 31 on the New York Stock Exchange . The demand for shares exceeded the supply of 133 million shares by about six times. The IPO reached $ 4.13 billion. Since then, the share has been traded under the symbol BX.

In the run-up to the IPO, reports were made of a Chinese sovereign wealth fund amounting to three billion US dollars. The China Investment Corporation secured 9.3 percent of the shares in Blackstone.

In July 2007, Blackstone took over the Hilton hotel chain , making it the fourth largest hotel operator in the world. With a total price of 26 billion US dollars, the transaction is the largest takeover in the tourism industry to date.

In the wake of the financial crisis , the Blackstone Group also had to report several quarterly losses in the millions. Compared to the IPO in June 2007, the value of the share had temporarily lost more than 90 percent of its value, but has since recovered somewhat (as of April 2012). In the summer of 2015, the value of the stock was between 44 and 32 USD; in the summer of 2016 it had decreased somewhat to values ​​between USD 20 and 30.

In October 2011 it was announced that Blackstone intends to take over 44% of the shares in the Salzburg holding ACM Projektentwicklung from Leica Camera .

In 2014 the Blackstone Group employed 2,190 people.

In 2015, Stephen A. Schwarzman earned $ 810.6 million as CEO of Blackstone Group.

In the second quarter of 2016, Blackstone Group had assets of $ 356.3 billion under management .

At the end of 2016 Blackstone bought Solvay Acetow in Freiburg im Breisgau .

In November 2016, Blackstone bought Officefirst, the office division of IVG Immobilien . The purchase price was 3.3 billion euros, as reported by the Bloomberg news agency .

In February 2017, Blackstone bought the cloud operations company Cloudreach.

In 2018 Blackstone took over a majority stake in Refinitiv from the Thomson Reuters group. This was sold on to the London Stock Exchange in August 2019 for $ 27 billion .

criticism

In 2009 Blackstone acquired thousands of apartments from the formerly municipal housing association of Kiel (KWG). The lack of maintenance of the apartments and the sharp rise in rents were criticized.

In April 2005, investment companies such as the Blackstone Group sparked the grasshopper debate in Germany. At the time, Franz Müntefering referred to financial investors as “ locusts ”. In the course of increasing investments in Germany, the co-founder and current CEO of the Blackstone Group Stephen A. Schwarzman referred to it. Angela Merkel had asked him for an explanation of the business model of private equity. He replied that he was a good locust because his company would save badly run businesses and thus secure jobs.

The company's name was also mentioned at the forefront in the discussion about very high manager salaries. Stephen A. Schwarzman received US $ 398.3 million in 2006 , US $ 350 million in 2007 , and even US $ 702 million in 2008 .

In December 2018, Blackstone's Danish subsidiary North 360 and Frederiksberg Boligfond, a non-profit housing developer, signed a purchase agreement for several hundred apartments in Frederiksberg . After criticism from residents and politics and uncertainty about the legality of the contract, Blackstone withdrew from it in October 2019.

Web links

Individual evidence

  1. ↑ Our People
  2. ^ A b Pay at Blackstone is a lot higher than at Goldman Sachs. October 16, 2015, accessed September 29, 2016 (British English).
  3. ↑ finanzen.net: Blackstone balance sheet
  4. ↑ a b The Firm. The Blackstone Group, accessed on July 21, 2020 (English).
  5. ^ Blackstone to switch from a partnership to a corporation . In: Reuters . April 18, 2019 ( reuters.com [accessed July 21, 2020]).
  6. ^ Demystifying GSO Capital (Blackstone). In: Wall Street Oasis. December 25, 2015, accessed December 25, 2015 .
  7. ↑ mbaerospace.com
  8. ↑ Hedge funds take over Jack Wolfskin , at www.spiegel-online.de , accessed on June 16, 2018.
  9. ↑ Hilton Hotels Corporation to be acquired by Blackstone Investment Funds ( Memento of September 28, 2007 in the Internet Archive )
  10. ↑ lasvegassun.com
  11. ↑ ft.com
  12. ↑ Equity Office Agrees to be Acquired by The Blackstone Group ( Memento of July 3, 2007 in the Internet Archive ) , phx.corporate-ir.net, November 19, 2006.
  13. ^ Blackstone has sold most Equity Office property: WSJ. In: reuters.com. July 26, 2007, accessed February 16, 2015 .
  14. ↑ Blackstone: China is investing three billion dollars in grasshopper. In: Spiegel Online . May 19, 2007, accessed February 16, 2015 .
  15. ↑ Deep red numbers: Blackstone founders forego bonuses. In: Spiegel Online . February 27, 2009, accessed February 16, 2015 .
  16. ↑ Financial investor Blackstone joins Leica ( Memento from October 21, 2011 in the Internet Archive ) In: tagesschau.de
  17. ↑ Koh Gui Qing: Blackstone CEO took home $ 810.6 million in 2015. In: Reuters. February 26, 2016, accessed September 29, 2016 .
  18. ^ Konrad Putzier: Real estate boosts Blackstone's profits in Q2. In: The Real Deal New York. July 21, 2016, accessed September 29, 2016 .
  19. ↑ Jörg Buteweg: Economy: Freiburg: Old name, new bosses: Solvay is soon Rhodia. Badische Zeitung, December 9, 2016, accessed on December 18, 2016 .
  20. ↑ Blackstone buys IVG subsidiary Officefirst. In: finanzen.net. November 8, 2016, accessed February 14, 2017 .
  21. ^ Blackstone Acquires a Majority Stake in Leading Global Public Cloud Enabler Cloudreach. Retrieved February 20, 2017 .
  22. ↑ London Stock Exchange swallows data company Refinitiv for 27 billion dollars. In: reuters.com. August 1, 2019, accessed December 31, 2019 .
  23. ^ Rolf Herbert Peters / print: Real estate: Locusts play Monopoly. October 29, 2005, accessed May 20, 2019 .
  24. ↑ Amanda L Gordon: Steve Schwarzman Maps an Arc From Mowing Lawns to Advising Trump. Bloomberg, accessed July 19, 2020 .
  25. ^ Schwarzman, Stephen A., 1947-: What it takes: lessons in the pursuit of excellence . First Avid Reader Press hardcover ed. New York, ISBN 978-1-5011-5814-8 .
  26. ↑ Blackstone boss: $ 400 million annual salary. In: Focus Online . June 12, 2007, accessed February 16, 2015 .
  27. ↑ Unknown title. In: nytimes.com. Retrieved on February 16, 2015 (English, subscription required).
  28. ↑ Blackstone boss got 700 million salary. In: handelsblatt.com . August 14, 2009, accessed February 16, 2015 .
  29. ↑ Anders Malling Beck: Blackstone traekker sig fra omstridt ejendomhandel (Blackstone withdraws from controversial real estate trade). In: TV 2 (Denmark) . October 4, 2019, accessed October 4, 2019 .