(Bloomberg) -- As the leveraged-buyout giant Blackstone Group LP rushes to imitate the most powerful securities firms with an improbable initial public offering, Goldman Sachs Group Inc. is leading the drive on Wall Street to embrace Blackstone as the model for making money.
Until Blackstone disclosed last month that it was planning an IPO, it was considered illogical for private-equity partnerships to surrender their secrecy. Most of Blackstone's earnings come from leveraged buyouts and real estate, and Goldman increasingly is relying on revenue from similar investments to boost profit rather than fees from advising companies on mergers and selling stocks and bonds.
Read more at Bloomberg Exclusive News
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