Blackstone Set To Triple Money On Hotel Chain—Again

Nov 8 2013 | 12:39pm ET

The Blackstone Group has repeated its coup with hotel chain Extended Stay America.

The private-equity firm more than tripled its money when it sold the company in 2007. It's poised to nearly do so again when Extended Stay goes public next week.

Blackstone, along with Centerbridge Partners and Paulson & Co., bought Extended Stay out of bankruptcy in 2010. At its current planned offering range, the IPO would give the three firms a return of 2.7 times their $1.58 billion investment.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of