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The New York Times
June 25, 2007

So much for the argument often made by managers of hedge funds and mavens of private equity that higher taxes would cripple their business.

The prospect of higher taxes did not dent, in the least, the initial public offering on Friday of the Blackstone Group, the giant private equity firm.

The New York Times
June 27, 2007

Shares in Blackstone closed at $30.75, down 5.2 percent, or $1.69, on the day, and slipping below the $31 price set for its initial offering on Friday. The slide poses an embarrassing setback for Blackstone, whose debut was among the most widely anticipated of the year, drawing armies of television cameras to the New York Stock Exchange.

(Hat Tip: New York Sun)

Posted by edelfenbein at June 28, 2007 6:34 AM