Blackstone Bank Team Makes An Impact Beyond RE and PE

Some observers may be surprised by the fees that private-equity giant Blackstone Group generates from sources other than managing investments in private businesses, real estate, credit, and funds of hedge funds for institutions like insurers and pensions. Certainly, the private-equity arm is one of...

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Bibliographic Details
Published in:National Mortgage News 2010-10, Vol.35 (3), p.16
Main Author: Rozens, Aleksandrs
Format: Article
Language:English
Subjects:
Bankruptcy
Banks (Finance)
Corporate profiles
Equity
Investment advisors
Investment banking
Physical fitness
Private equity
Revenue
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Summary:Some observers may be surprised by the fees that private-equity giant Blackstone Group generates from sources other than managing investments in private businesses, real estate, credit, and funds of hedge funds for institutions like insurers and pensions. Certainly, the private-equity arm is one of Wall Street's biggest clients, but the banking team is actually competing for corporate finance mandates that are starting to make a major impact on the bottom line. For the second quarter, Blackstone reported $552.3 million of revenue. Gains in private equity and real estate investments played a role, but revenue from financial advisory work rose 62.4% from a year earlier, to $135.6 million.
ISSN:1050-3331