Blackstone’S War To Win Over Traders

Mr Schwarzman has also been at the centre of the controversy about the preferential tax treatment that private equity funds receive.
Irritated by Blackstone’s modest earnings multiple, Mr Schwarzman vented in April that his firm had “faster revenue and earnings growth [than the broader market], and a much higher [dividend] payout.
“The perception of buyouts is that it’s all financial engineering,” says Joseph Baratta, head of the private equity group.
(Blackstone and several private equity firms have been sanctioned by the Securities and Exchange Commission for improper fee practices).
It has been a decade since Stephen Schwarzman listed Blackstone, his private equity firm, on the New York Stock Exchange.

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