Blackstone President Cuts Holdings In Firm

Feb 19 2013 | 9:28am ET

Blackstone Group President Hamilton James has sold off a chunk of the private equity giant's shares, less than two weeks after a report that he had sought—unsuccessfully—a job at the White House.

A company James owns with his wife and a trust for his children sold 3.5 million shares between Wednesday and Friday, with proceeds of about $64.2 million, according to securities filings.

It's not clear what James' motivation was. Fox Business Network reported earlier this week that James, a top fundraiser for President Barack Obama, had asked to be considered for a job in the administration as it becomes clear that he will not succeed Blackstone CEO Steven Schwarzman. Of course, he could also be taking advantage of a 20% rally in Blackstone's shares this year.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note