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IPO Expected to Draw Billions for Blackstone Execs

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IPO Expected to Draw Billions for Blackstone Execs

Business

IPO Expected to Draw Billions for Blackstone Execs

IPO Expected to Draw Billions for Blackstone Execs

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One of the most powerful private equity firms is selling shares to the public — about 10 percent of Blackstone Group will be made available to investors in an initial public offering later this month. Blackstone's IPO is expected to yield a huge bonanza to key executives.

CEO Steve Schwarzman's shares are likely to be valued at $7.5 billion, and company co-founder Pete Peterson will reap more than $1 billion.

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