No doubt Mr. Schwarzman is a happy camper (so long as no one wears squeaky shoes) with his IPO pricing at the top of the range. Blackstone IPO raises $4.13 billion. Did they price it low enough so BX will have that Google like quality of surging a never looking back? Somehow I doubt that as the credit boom falters, but for tomorrow, at least, it ought to be a happy day as BX comes to market. Can me cynical, but this has market top written all over it. Surely, Mr. Schwarzman & cohorts would not be sharing and letting the unwashed and huddled masses in if they thought BX was undervalued?
And don't look now, but... Reports: Private equity firm KKR is planning an IPO.