- Schwarzman Says Worst Is Behind the Buyout Industry
- Blackstone sees “more than green shoots” of recovery
- Ex-Bear Stearns Fund’s Cioffi, Tannin Jury Selected for Trial
- Bear stearns jurors dismissed for bias
- Hedge Funds Headed for Best Year Since 2003, Eurekahedge Says
Schwarzman Says Worst Is Behind the Buyout Industry – Bloomberg
Blackstone Group LP Chief Executive Officer Stephen Schwarzman said the worst is behind the private equity industry, as sales at companies it owns stabilize and the firm weighs selling shares through public offerings.
“After virtually no realizations over the last year, we’re seeing the beginnings of realizations through sales and equity offerings,” Schwarzman told a private equity conference in Dubai today. “Revenues of most portfolio companies are no longer declining.”…..
The future now looks substantially brighter for us in the private equity business,” he told attendees at the Super Return Middle East conference……
Blackstone sees “more than green shoots” of recovery – Reuters
Private equity firm Blackstone Group’s (NYSE:BX – News) chief executive said the worst of the industry’s problems were behind it, and dealflow and IPO opportunities were opening up again.
Stephen Schwarzman also said on Wednesday he was seeing “more than green shoots” of economic recovery, though the scale of growth through next year was still unclear.
“We do not expect the U.S. economy to slip back into recession but we do believe that weak consumer spending and continued constraints on bank lending will dampen the U.S. economic recovery in 2010 and 2011,” Schwarzman said at a conference….
Ex-Bear Stearns Fund’s Cioffi, Tannin Jury Selected for Trial – Bloomberg
A jury of seven women and five men were selected to hear the case of ex-Bear Stearns Cos. hedge- fund managers Ralph Cioffi and Matthew Tannin, who are accused of misleading investors about two hedge funds that collapsed at a cost of $1.4 billion……
Bear stearns jurors dismissed for bias – Reuters via NY Post
Two prospective jurors who wrote comments about “wrongdoing” and “bending the rules” by Wall Street were rejected by a US judge yesterday for the trial of two former Bear Stearns hedge fund managers on fraud charges….
Hedge Funds Headed for Best Year Since 2003, Eurekahedge Says – Bloomberg
Hedge funds returned 2.5 percent in September, heading for their best performance in six years, as global stock markets rose and the U.S. Federal Reserve suggested interest rates will remain low, Eurekahedge Pte said.
The Eurekahedge Hedge Fund Index, tracking more than 2,000 funds, gained for the seventh straight month, bringing its year- to-date advance to 16.1 percent, according to the Singapore- based data provider’s preliminary report based on 52 percent of the funds that reported performances. The industry grew by $26.3 billion last month, bringing total assets managed to $1.42 trillion, the report showed…..
Tags: Bear Stearns, Blackstone Group, Hedge funds, Steve Schwarzman
