Saturday, 27 December 2014
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.