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Search resuls for: "Steve Schwarzman"


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☆ Meet the megadonors backing the Trump super PAC as some top donors opt out of supporting 2024 candidacy
  + stars: | 2022-12-11 | by ( Brian Schwartz | ) www.cnbc.com   time to read: +6 min
Yet, the latest disclosure, which shows fundraising for the super PAC from Oct. 20 through Nov. 28, also lists nine other individual contributions totaling over $900,000. Wealthy businessman Timothy Mellon contributed $1.5 million to the super PAC on Oct. 5, according to the records. This small group of megadonors arrived in support of the super PAC just prior to other influential financiers deciding they will not back Trump's 2024 candidacy for president. During Trump's first run for the White House in 2016, Pate financed the anti-Trump super PAC We The People Foundation. Anthony Lomangino, a recycling mogul, donated $100,000 to the super PAC on Nov. 4.
☆ Blackstone gets a slap from efficient markets
  + stars: | 2022-12-08 | by ( Jonathan Guilford | ) www.reuters.com   time to read: +9 min
NEW YORK, Dec 8 (Reuters Breakingviews) - Private markets seemed, for a while, the perfect antidote to the weirdness of public markets. Those models typically move much more slowly than the rapidly changing prices served up by public markets. These charms became much more potent during the stresses of Covid-19, when it became clear that public markets are not always a ruthlessly efficient price-discovery mechanism. RESILIENCE OR INTRANSIGENCECovid briefly scrambled the world, but bigger changes are coming that may scramble the calculus for private markets. During Covid, public markets seemed backward-looking, overreacting to the present moment while private markets were able to focus on the future.
☆ Investors focus on lower earnings outlook for 2023, but the evidence is so far mixed
  + stars: | 2022-12-07 | by ( Bob Pisani | ) www.cnbc.com   time to read: +2 min
The boomlet from Fed Chair JeromePowell's speech is now over. Second, a string of hot economic reports (November nonfarm payrolls, strong hourly earnings, strong ISM Services report), has convinced many that the much anticipated year-end stock rally is not going to happen. At the Goldman Sachs Financial Services Conference on Tuesday, CEOs were cautious but not gloomy. While some chose to focus on one or two CEOs warning of a slowing economy, most CEOs at the conference were not pessimistic. The bottom line: Investors, for the moment, are choosing to believe that the outlook for 2023 is leaning more to "earnings are going lower" rather than "earnings will be flat."
☆ Blackstone's grand ambitions for attracting retail money faces a hiccup
  + stars: | 2022-12-02 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
It's also a key part of the firm's push to attract retail investors, Insider's Rebecca Ungarino reports. Bloomberg previously reported that both firm CEO Steve Schwarzman and President Jon Gray have each put $100 million of their own money into BREIT since July. But as nice as it is to have the bosses' money backing your fund, that's not the target audience. And while there is a lot of upside to attracting retail investors — its private wealth arm has quadrupled in size to $233 billion in assets in four years — there are risks, too. Click here to read more about the recent headwinds facing Blackstone's big bet to attract retail money.
☆ GOP megadonor Mercer family has no plans to boost Trump's 2024 campaign as former president loses more allies
  + stars: | 2022-11-18 | by ( Brian Schwartz | ) www.cnbc.com   time to read: +5 min
Robert Mercer and Rebekah Mercer attend the 2017 TIME 100 Gala at Jazz at Lincoln Center on April 25, 2017 in New York City. Rebekah Mercer gave nothing to any pro-Trump group or Trump campaign entity during his last run for president, according to the filings. The 2016 Trump campaign then reportedly used that data to conduct some digital advertising. The Trump campaign paid Cambridge Analytica over $5.9 million for its services during the 2016 election cycle, according to the nonpartisan OpenSecrets. The pro-Trump super PAC funded in part by Robert Mercer also paid Cambridge Analytica just over $5.6 million that cycle, OpenSecrets says.
☆ Private equity is ready to make moves as the economy sours, but its approach to dealmaking might be different than in years past
  + stars: | 2022-11-17 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
When the going gets tough, PE gets going. Insider's Casey Sullivan and Rebecca Ungarino examined one segment of Wall Street that is primed to take off despite an economy that has left almost everyone hurting. The big question is where will PE firms look to deploy capital. How long PE firms resist those types of deals still remains to be seen, though. People who left Wall Street for crypto aren't second guessing themselves.
☆ Blackstone CEO and GOP megadonor Steve Schwarzman says he won't help Trump during 2024 primary
  + stars: | 2022-11-16 | by ( Brian Schwartz | ) www.cnbc.com   time to read: +3 min
Blackstone CEO Stephen Schwarzman listens to U.S. President Donald Trump during Trump's strategy and policy forum with chief executives of major U.S. companies at the White House in Washington February 3, 2017. Blackstone CEO and Republican megadonor Steve Schwarzman has no plans to fund former President Donald Trump's 2024 campaign for the White House — at least not in the GOP primary. Schwarzman first allied himself with Trump late in the 2016 presidential election. Since Trump's initial run for president, Schwarzman has become one the Republican Party's biggest donors. During the 2020 presidential election, he donated $3 million to America First Action, a super PAC that backed Trump's candidacy, according to OpenSecrets.
☆ Blackstone CEO Steve Schwarzman says he won't support Donald Trump in the 2024 presidential primary
  + stars: | 2022-11-16 | by ( Madeline Berg | ) www.businessinsider.com   time to read: +3 min
Blackstone CEO and GOP megadonor Steve Schwarzman says he won't support Donald Trump in 2024. Schwarzman and his wife donated $3 million to a Trump super PAC in 2020. The billionaire joins other prominent Republicans who say they will not support Trump's bid. Schwarzman and his wife, Christine Hearst Schwarzman, are Republican party megadonors. Schwarzman had previously criticized the January 6 Capitol rioters and did not support Trump's false claims that he had won the 2020 election.
☆ Trump ally, billionaire GOP megadonor Ronald Lauder won't back Trump's 2024 run for president
  + stars: | 2022-11-16 | by ( Brian Schwartz | ) www.cnbc.com   time to read: +2 min
Then-President-elect Donald Trump shakes hands with Ronald Lauder, President of the World Jewish Congress, after a meeting on December 28, 2016 at Mar-a-Lago in Palm Beach, Florida. Billionaire and GOP megadonor Ronald Lauder won't help finance Donald Trump's 2024 campaign for president, his spokesman told CNBC on Wednesday. Lauder, an heir to the Estée Lauder fortune, is the latest Republican megadonor to distance himself from Trump as the former president launches a third bid for the White House. Lauder reportedly spoke to Trump while he was president about the idea of the U.S. buying Greenland. Though his spokesman did not say who Lauder will support in 2024, Florida campaign finance records show that the billionaire businessman donated $10,000 last year to a political action committee supporting Florida Gov.
☆ Blackstone strikes twice with Emerson carve-out
  + stars: | 2022-10-31 | by ( John Foley | ) www.reuters.com   time to read: +4 min
The transaction employs an unusual structure similar to one Blackstone used successfully five years ago. It looks a lot like the deal Blackstone struck with Thomson Reuters(TRI.TO) – the parent company of Breakingviews – back in January 2018. Because debt accounted for around two-thirds of the purchase price, the quick sale roughly doubled the value of Blackstone and Thomson Reuters’ equity investments. Private equity group Blackstone will contribute $4.4 billion in cash, receiving a 55% equity stake in the business and a $2 billion convertible preferred note. Emerson, an industrial conglomerate that makes industrial instruments and software, will retain 45% of the division’s equity and a note worth $2.25 billion.
☆ Private credit is king, for now: How Blackstone is seizing on making loans while banks pull back in a dismal market
  + stars: | 2022-10-20 | by ( Rebecca Ungarino | Emmalyse Brownstein | ) www.businessinsider.com   time to read: +4 min
Blackstone is doubling down on private credit investments in a volatile market. While its corporate private equity investment performance fell in the quarter, private credit rose. As stock markets plunge, private equity investments' values sour, and central banks hike interest rates, the growing private credit market is heating up — and benefitting private investors stepping in to make loans as banks pull back. Take Blackstone, the world's largest alternative asset manager known for its powerful private equity and real estate businesses. Risks and opportunitiesBlackstone is hardly alone as it doubles down on private credit investments.
☆ Blackstone converts Indian property to safe haven
  + stars: | 2022-10-06 | by ( Una Galani | ) www.reuters.com   time to read: +3 min
MUMBAI, Oct 6 (Reuters Breakingviews) - A global downturn could boost demand for Indian real estate. The investor-cum-landlord led by Steve Schwarzman has played a big role in developing a local market for real estate investment trusts. Now it’s preparing to float a collection of glitzy shopping malls in what would be only the country’s fourth publicly traded REIT. Indian real estate trusts outperform U.S. peersFollow @ugalani on Twitter(The author is a Reuters Breakingviews columnist. On Sept. 27, Blackstone raised $325 million from selling an 8.1% stake in Embassy Office Parks REIT, per IFR.
☆ American homebuyers are finding UK bargains, discounted by a weaker pound
  + stars: | 2022-09-30 | by ( Robert Frank | ) www.cnbc.com   time to read: +3 min
American homebuyers are searching for bargains in the U.K., as a weaker pound contributes to double-digit price cuts. The fall in the British currency, which is off 17.5% against the U.S. dollar year to date, has made U.K. real estate cheaper for buyers paying in U.S. dollars. A property listed at 5 million pounds in Knightsbridge, for instance, would have cost $8.6 million eight years ago but $4 million today. The asking price: 30 million pounds, or about $33 million with today's currency exchange rates. That marks a savings of more than $6 million for U.S. buyers, paying in dollars, compared with a year ago.
☆ Blackstone’s Schwarzman kickstarts UK asset grab
  + stars: | 2022-09-28 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Sept 28 (Reuters Breakingviews) - Britain’s currency crisis may have an upside after all – at least for foreign investors. Blackstone’s (BX.N) Steve Schwarzman is paying 80 million pounds for 17th-century country estate Conholt Park, the City A.M. newspaper reported. But it’s exactly the kind of purchase that will make more sense the lower the pound goes. And to the extent that future cash flows are denominated in dollars or euros, the sterling purchase price should rise. U.S. investors just bought Chelsea soccer club, while Saudi Arabia’s sovereign wealth fund last year swooped on rival Newcastle United.
☆ How Blackstone, the private equity giant behind cult-favorite sunscreen Supergoop, is thinking about its next big consumer bet
  + stars: | 2022-09-26 | by ( Michelle Abrego | ) www.businessinsider.com   time to read: +6 min
The growth of e-commerce has opened new private equity opportunities, a top investor said. The $941 billion private equity firm took a majority stake in Supergoop last December. The investment valued Supergoop, which makes sunscreen and sun protection-focused makeup, at some $600 million to $700 million at the time, Bloomberg News reported. "What is at work here is the colossal, growing nature of private equity everywhere," said Carter Dougherty, communications director for the progressive advocacy coalition Americans for Financial Reform. Some $78 billion of that is in private equity, with the rest across real estate, hedge fund solutions, and credit and insurance, according to filings.
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