blackstone group lp/the
(BX:New York Consolidated)
blackstone group lp/the (BX) Snapshot
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Open
$21.51
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Previous Close
$21.59
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Day High
$21.75
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Day Low
$21.25
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52 Week High
05/21/13 - $23.80
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52 Week Low
06/25/12 - $11.76
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Market Cap
23.6B
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Average Volume 10 Days
3.7M
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EPS TTM
$1.88
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Shares Outstanding
456.4M
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EX-Date
04/25/13
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P/E TM
11.3x
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Dividend
$1.20
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Dividend Yield
4.33%
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blackstone group lp/the (BX) Latest News
blackstone group lp/the (BX) Related Businessweek News
blackstone group lp/the (BX) Details
The Blackstone Group L.P., together with its subsidiaries, provides alternative asset management and financial advisory services worldwide. It operates in five segments: Private Equity, Real Estate, Hedge Fund Solutions, Credit Businesses, and Financial Advisory. The Private Equity segment engages in private equity investing through five general private equity funds and one specialized fund focusing on communications-related investments. This segment engages in various transactions, including leveraged buyout acquisitions of seasoned companies, transactions involving growth equity or start-up businesses in established industries, minority investments, corporate partnerships, distressed debt, structured securities, and industry consolidations. The Real Estate segment manages general opportunistic real estate funds and internationally focused opportunistic real estate funds. This segment also has debt investment funds targeting non-controlling real estate debt-related investment opportunities in the public and private markets, primarily in the United States and Europe. The Hedge Fund Solutions segment manages a range of commingled funds of hedge funds and customized vehicles. The Credit Businesses segment manages various credit-oriented funds, including senior credit-oriented funds, distressed debt funds, mezzanine funds, and general credit-oriented funds; and CLOs, credit-focused separately managed accounts, and publicly registered debt-focused investment companies. The Financial Advisory segment offers financial and strategic advisory services, such as corporate finance, and mergers and acquisitions advice; restructuring and reorganization advisory services; and fund placement services for alternative investment funds. Blackstone Group Management L.L.C. operates as the general partner of the company. The Blackstone Group L.P. was founded in 1985 and is headquartered in New York, New York.
blackstone group lp/the (BX) Top Compensated Officers
blackstone group lp/the (BX) Key Developments
SunGard Data Systems Inc. is exploring a sale of its data managing operations that could fetch up to $2 billion, several people familiar with the matter said. The business for sale, which offers data center space and technology infrastructure to clients looking to safeguard their data, has earnings before interest, tax, depreciation and amortization (EBITDA) of around $200 million, the people said. SunGard is owned by Bain Capital, LLC; Goldman Sachs Group, Merchant Banking Division; Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR); Providence Equity Partners LLC; Silver Lake; TPG Capital, L.P.; and The Blackstone Group L.P. (NYSE:BX) and is working with Goldman Sachs Group Inc (GS.N) on the possible sale, the people said. The people asked not to be identified because the matter is confidential. SunGard officials did not immediately respond to a request for comment while representatives of the private equity owners either declined to comment or were not immediately available to comment. Goldman Sachs declined to comment.
Siemens Aktiengesellschaft (DB:SIE) has approached a number of private equity firms about buying its stake in Nokia Siemens Networks B.V. (NSN). The private equity firms approached include TPG Capital, L.P., The Blackstone Group L.P. (NYSE:BX) and Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR), according to people familiar with the matter.
NewSat Limited (ASX:NWT) eyes Cable & Wireless Optus Satellites Pty Limited. "We are interested in the process. At the moment we haven't directly requested the IM [information memorandum] but we have had a number of approaches from banks and private equity firms to partner. In the event we could put together a vehicle that's non-diluting, which allows us to win that business, we'd be very aggressive in pursuing that," NewSat Chief Executive Officer, Adrian Ballantine said. Singapore Telecommunications Limited (SGX:Z74) appointed Morgan Stanley and Credit Suisse in March 2013 to review options for Optus. Sources close to the process believe a trade sale is the most likely outcome. The bidding field is expected to include Apollo Global Management, LLC (NYSE:APO); Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR); Permira Advisers Ltd.; The Blackstone Group L.P. (NYSE:BX); Inmarsat Plc (LSE:ISAT) and Eutelsat Communications S.A. (ENXTPA:ETL). Market sources believe Optus's satellites business could fetch more than $2 billion, based on peer multiples and gross margins, which for satellites are typically in the range of 80 to 90 per cent. Ballantine believes the sale process will provide the company with an opportunity to increase visibility about its business model, and create value for its own shareholders. "If they have a valuation of $2.3 billion and we have a valuation of $230 million it augurs well. It will help us get better value on NewSat - when we talk about 80 to 90% margins that would appear to be what those satellites provide. It sounds like there is a lot of interest to acquire those satellites. It proves it's a healthy market with healthy multiples and the margins are high," he added.

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Industry Analysis
BX
Industry Average
| Valuation | BX | Industry Range |
| Price/Earnings | 36.6x |
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| Price/Sales | 3.0x |
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| Price/Book | 2.2x |
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| Price/Cash Flow | 75.5x |
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| TEV/Sales | 1.4x |
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