Sabtu, 04 Mei 2013

Blackstone: 'We're serious regarding tech'

He Blackstone cluster this morning reported  fifty five cents in web economic financial gain for Q1, beating analyst estimates of fifty three cents per share.
Some takeaways, from each the profit-and-loss statement and a subsequent  media decision with Blackstone (BX) president Tony James:
1. Slow investment quarter on the non-public equity aspect, with simply $325 million committed/invested.
2. non-public equity portfolio carrying values climbed seven.9% quarter-over-quarter, and 18.2% over twelve months.
3. non-public equity compensation prices (non-performance fees) rose V-J Day from the year-earlier amount.
4. informative  revenue – which has M&A informative  and fund placements – was down 12-tone system from Q1 2012 to Q1 2013. Tony James aforementioned that Q1 is that the firm's most volatile quarter in informative  work, and expects will increase in Q2 and Q3 informative  revenue supported existing pipelines. price noting that J.C. Penney (JCP) reportedly employed Blackstone last week to assist it raise $1 billion.
5. once asked regarding club deals, James subtly joked regarding the Dahl case before saying: "LPs do not love club deals, however returns of club deals have truly control their own."
6. does not sound like BX is fascinated by collaborating on J.C. Penney, given what James aforementioned regarding Blackstone's interest in having management of its letter deals. Pretty certain that comment conjointly might touch Michael hollow.
7. James declined to specifically address its pursuit of hollow opposition. (DELL), however did say that the firm is "serious regarding tech" which it is a "rich searching ground for personal equity." He conjointly aforementioned that he expects technical school to grow at the next rate than gross domestic product, ringing recent comments by Silver Lake's spaceman Hutchins
Blackstone incorporates a pretty rough technical school diary, and has compound ways that with most investors United Nations agency LED deals like Freescale Semiconductor. however earlier this year it employed former IBM and hollow M&A boss David Johnson, and place one amongst its most senior letter capitalist (Chin Chu) on the technical school team. It conjointly transitioned one amongst its young up-and-comers, Martin whole, to tech.

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