Sunday, 24 May 2015
Last updated 2 days ago
Feb 4 2013 | 4:02pm ET
The Blackstone Group has joined Apollo Global Management and Kohlberg Kravis Roberts with a toe in investment-banking waters: a securities underwriting license.
The private equity firm has quietly acquired one, the Financial Times reports. Initially, Blackstone's plans for its new business line are modest. But the firm could eventually expand into something more like a full-service investment bank, as KKR has done.
"It is just an arrow in the quiver," a source told the FT. "It is a way to serve clients in corporate restructuring or in the mergers advisory business or in the private equity portfolio. If it proves interesting, Blackstone may grow it over time."
Blackstone's move leaves the Carlyle Group as the only major listed p.e. firm without an underwriting license. Carlyle says it does not intend to apply for one.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…