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Blackstone Group

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This article is part of the Coal Issues portal on SourceWatch, a project of CoalSwarm and the Center for Media and Democracy. See here for help on adding material to CoalSwarm.

The Blackstone Group is a private investment banking firm and describes itself as a "leading global investment and advisory firm." The Blackstone Group was founded in 1985 by a group of four, including Peter G. Peterson and Stephen A. Schwarzman.

The Blackstone Group has ties to American International Group, Inc. (AIG) and Kissinger Associates, Inc./Henry Kissinger. According to the Blackstone website, AIG acquired a 7% non-voting interest in the company in 1998 for $150 million "and committed to invest $1.2 billion in future Blackstone-sponsored funds".

"Blackstone has developed strategic alliances with some of the largest and most sophisticated international financial institutions. In addition to AIG, they include Kissinger Associates, Roland Berger & Partner, GmbH, and Scandinaviska Enskilda Banken," the website states. [1]

The company's Blackstone Alternative Asset Management unit handles $1 billion in hedge funds for pension giant CalPERS.

John Forbes Kerry 2004 campaign 'adviser' Roger C. Altman was Vice Chairman of The Blackstone Group from 1987 through 1992 "where he led that firm's merger advisory business". [2]

In December 2001, The Blackstone Group was appointed as Enron's principal financial advisor with regard to its financial restructuring.[3] The company also advised Enron on "the Sale of its North American Power and Gas Trading Business to UBS". [4]Template:Deadlink

The Blackstone Group is also handling the restructuring of Global Crossing. [5]

Political contributions

Stephen A. Schwarzman, the Chairman, CEO, and Co-founder of Blackstone Group, is a Bush Pioneer (see Bush's Rangers) having raised at least $100,000 for Bush in the 2004 presidential election. [1]

Lobbying

Blackstone Group spent $940,000 for lobbying in 2006. Five lobbying firms were used. [2]

Board

Accessed October 2012: [3]

Senior Advisors

Accessed October 2012: [4]

Personnel (2007)

Key executives: [5]

Selected board members: [6]

Contact information

New York
The Blackstone Group
345 Park Avenue
New York, NY 10154
USA
Phone: +1 212 583 5000
Fax: +1 212 583 5712

London
The Blackstone Group International Limited
Stirling Square
5-7 Carlton Gardens
4th Floor
London, SW1Y 5AD
U.K.
Phone: +44 20 7451 4000
Fax: +44 20 7451 4038
Web: http://www.blackstone.com

Resources and articles

Related Sourcewatch articles

References

  1. Pioneers and Rangers, Texans for Public Justice, accessed July 2007.
  2. Blackstone Group lobbying expenses, Open Secrets.
  3. Blackstone Group Board, organizational web page, accessed October 5, 2012.
  4. Blackstone Group Senior Advisors, organizational web page, accessed October 5, 2012.
  5. Blackstone Group Officers, Blackstone Group, accessed July 2007.
  6. Board and Committees, Blackstone Group, accessed July 2007.

External links