The main reason is they got options and sold the stock received. I do not get that, and I believe BX will move past $30 this year......... Did you read the publication BX presented at the investor conference? If so, BX should be bought, not sold!!
You need to understand high personal finance, there are huge tax advantages personally by cashing out on your options as opposed to not trying to protect your salary from the IRS. Warren Buffet pays an income tax rate that is either equivalent or slightly higher than the LT capitol gains tax rate while his " salary " is at best minimal for a person of his accomplishments, he plays the role of philanthropists with these funds which is deductible.
You need money to make money, tax laws are skewed towards the wealthy under the GOP guise that the wealthy create jobs - well if I were in private enterprise I would make certain that I was taken care of first, even if I needed to work 25 hours a day before I started creating jobs. There comes a time when you should be able to reap the benefits of your labors.
As an investor I am all for this -
Jobs always lag the economy, business needs to feel comfortable moving forward after what has occurred. Banks still feeling there way the new rules - lending is picking up.
BX is in the cats bird seat here, companies have a lot of cash on hand and M&A is bound to pick up once the banks start participating. Companies can't sit on the sideline and watch private equity buying up companies and expect to grow. Things are going to get pretty busy at BX soon