|Bid||44.25 x 800|
|Ask||0.00 x 1300|
|Day's Range||44.18 - 45.38|
|52 Week Range||26.88 - 45.38|
|Beta (3Y Monthly)||1.61|
|PE Ratio (TTM)||18.18|
|Forward Dividend & Yield||1.48 (3.91%)|
|1y Target Est||N/A|
Moody's Investors Service today affirmed the Baa3 rating assigned to Sabine Pass Liquefaction LLC's (SPL) senior secured bonds as well as the Ba2 Corporate Family Rating (CFR) and Ba2 rating assigned to Cheniere Energy Partners, L.P's (CQP) senior unsecured notes. The outlooks for SPL and CQP are stable.
Moody's Investors Service ("Moody's") assigned a B1 to Michaels Stores, Inc.'s proposed 8 year $500 million senior unsecured note offering. Moody's affirmed Michaels' Ba2 Corporate Family rating, Ba2-PD Probability of Default ratings, and Ba2 senior secured rating. "This refinancing extends Michael's debt maturity ladder in a leverage neutral transaction thereby improving the company's overall credit profile".
(Bloomberg) -- What does Wall Street do before disappearing for a few months of golf, tennis and beach-side soirees?Binge on benefits, of course. Because there’s no better way to earn some rest and relaxation than by enduring lukewarm entrees, too-long speeches and too many air kisses, all while raising money for nonprofits.Not to be jaded or anything. As Robert Steel said of his recent binge, attending an event for Hospital for Special Surgery, which he serves as a co-chairman with Thomas Lister of Permira, “They’re like my children, I love them all.”One advantage of New York this time of year is that some of the benefits are outdoors. The Public Theater convened with roller skaters at the Delacorte Theater where it presents Shakespeare. Palm trees swayed in light Bronx breezes as the New York Botanical Garden raised almost $2.2 million and honored Chairwoman emerita Maureen Chilton.The Wildlife Conservation Society, which runs the Bronx Zoo, went south to the Central Park Zoo, where the sea lions squealed and fed on fish.That wasn’t wild enough for Paul Tudor Jones.“One day -- it’s on my bucket list -- I want to go up to the Arctic and see a polar bear,” Jones said. “I have a huge spot for them in my heart because they’re always hungry looking for something to eat. I want them to find a washed-up whale and eat forever.”Julian Robertson said he’d gone eye-to-eye with his dog Bear earlier in the evening, while Averell Harriman Mortimer reminisced about the flying squirrels he kept as a kid in his Manhattan apartment.“Running Goldman Sachs equipped me for dealing with all species and manners of wildlife,” Lloyd Blankfein said.“Some of whom are endangered,” added Goldman Sachs lead director and private equity investor Adebayo Ogunlesi.In the Summer Garden & Bar at Rockefeller Center, Leon Black and his wife, Debra, joined Mike Milken and more than a thousand leveraged-finance professionals at a benefit for the Melanoma Research Alliance, which the Blacks founded. Then he presided at the Museum of Modern Art’s Party in the Garden to honor Alice Tisch and others. A day later, Black was at the Central Park Conservancy’s Taste of Summer, where Italian bistro Sistina served ravioli.The most important stat on his gala scorecard?“We’re up more than 20%,” Black said at the melanoma event, crediting Jeff Rowbottom of PSP Investments and Brendan Dillon of UBS for helping raise $2.4 million. The alliance’s funding has played a role in 12 drugs that received government approval.Andrew Tsai of Chalkstream Capital Group (named for the rivers in England where he learned fly fishing) said breakthroughs in treating skin cancers are leading to therapies for other types of the disease. He’s working to make that happen as co-chairman of the Cancer Research Institute, which has focused on immunotherapy for more than 50 years.“I want to make sure we do not stop until every single cancer type has been addressed in a significant way,” Tsai said at the institute’s Through the Kitchen benefit, where guests served themselves from buffets set up in the kitchen of the Pool & the Grill, then dined at comic strip-themed tables (Ken Langone sat with a cardboard cutout of Betty Boop).During dinner at the French consulate for the Pershing Square Sohn Cancer Research Alliance, Bill Ackman committed $4.2 million to seven investigators, including Yael David, who studies how cancer cells react to sugar.As for those speeches, some managed to cut through the chatter.For an audience including David Einhorn and Marc Spilker, outgoing New 42nd Street President Cora Cahan described how the rigor of her modern dance career guided her in bringing a theater for families -- the New Victory -- to a seedy block.“Every day you dared not be satisfied,” she said. “And the next day you tried to do it all a little bit better, a little bit deeper, and a little bit higher.”The transformation of the New York Public Library, a few blocks east on 42nd Street, was also celebrated when Carnegie Hall presented its Medal of Excellence to Vartan Gregorian, head of the Carnegie Corporation.Author Robert Caro recalled what it was like to write “The Power Broker” at the library in the early ’70s, when hours were being cut, plywood covered marble and soot hid the beauty of the facade. He said things changed in the ’80s when Gregorian became the library’s president, which Caro discovered when he pulled up to the library with his wife to attend a gala.“There were three guys standing there in red English hunting coats, holding French horns,” Caro said. “As Ina and I got out of the car, they blew a fanfare.”Singer Lizzo blew out a speaker while performing at a UJA-Federation of New York benefit and she was even better without it at the event honoring IHeartRadio executives.Ethan Hawke, who appeared at a benefit for the Brooklyn Academy of Music, cut to the chase. “If a place like BAM doesn’t exist, then the mental health of all of NYC is deteriorating,” Hawke said.He could have been speaking at any number of fundraisers around town: the one for Prep for Prep that raised $3.8 million honoring Paul Taubman, the Moth Ball supporting the therapeutic process of storytelling where guests included Adam Dell and Scott Lawin, the 92nd Street Y benefit with seven dinners highlighting a different way the institution serves the community (from summer camps to jewelry classes; Thomas Kaplan hosted one on foreign affairs).Robert Smith emphasized the power of live music to level the playing field. The Apollo Theater’s stage is a meritocracy because “regardless of who you are or where you came from, by the end of the set, you know exactly how good you are,” he said in a video that played at a benefit for the Harlem venue.On another night, Smith joked he and guests had finally made it by getting to have dinner on the stage of Carnegie Hall. But then he clarified. “For us, making it isn’t just dining on the stage,” he said. “It’s taking this hall to thousands of people every single year through the artistic and educational programming that we’ve been able to build, support and sustain.”\--With assistance from Sophie Alexander.To contact the reporter on this story: Amanda Gordon in New York at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
With institutional capital's flight from hedge funds into the private equity sector, expect blue chip firms like Blackstone (BX) to continue to increase raise enormous funds, suggests John Freund, income and growth specialist and editor of BullMarket Report.
With patience and skill, Blackstone Group CEO Stephen Schwarzman helped build an alternative-investment powerhouse that soon will be available to a much larger universe of investors.
Residential appraiser Ryan Lundquist said he was intrigued when he spotted about 10 Blackstone-owned homes for sale this month locally.
Investors seeking financial stocks that can outperform amid the market's crosscurrents in 2019 might consider eight financial services companies in industries such as exchanges, property insurance, alternative asset management, and mortgages. While banks are currently rebounding in the latest rally, their profits are likely to be pressured by an inverted yield curve that will squeeze earnings.
Blackstone is the world’s largest alternative asset manager, rather than the largest asset manager as incorrectly stated in an article on June 12. Copyright © 2015 The Financial Times Limited. Please don't ...
World-class money managers like Ken Griffin and Barry Rosenstein only invest their wealthy clients' money after undertaking a rigorous examination of any potential stock. They are particularly successful in this regard when it comes to small-cap stocks, which their peerless research gives them a big information advantage on when it comes to judging their worth. […]
In this daily bar chart of BX, below, we can see heavy volume in December as prices reversed from a downtrend to an uptrend. Prices and the On-Balance-Volume (OBV) line made a "V"-like bottom. In this weekly bar chart of BX, below, we can see an advance the past three years.
Eight months after Chief Executive Officer Steve Schwarzman pledged $350 million to establish a college of computing at Massachusetts Institute of Technology, Executive Vice Chairman Tony James and wife Amabel are providing the funds to create a center for artificial intelligence and human health at Mount Sinai’s medical school in New York.
Element Capital’s Jeffrey Talpins, one of the hedge fund industry’s biggest but least-known stars, is cutting about a tenth of his employees, according to people with knowledge of the plans. Although largely unknown outside the money management world, Mr Talpins’ Element has emerged as one of the most successful “macro” hedge funds in an industry whose luminaries include Paul Tudor Jones, Alan Howard and Louis Bacon. Element’s $18bn hedge fund has averaged annual returns of more than 20 per cent since 2005, producing steady and strong gains and never suffering a down year over a turbulent period that has wrongfooted many other macro hedge funds, which bet on big economic trends.
Deutsche Bank has warned almost 1,000 corporate clients that they will lose access to basic banking services within weeks because it has not received documents needed to verify their identity. The Frankfurt-based lender has sent hundreds of the termination letters to blue-chip companies, underscoring how banks are scrambling to meet tougher anti-money laundering rules introduced by regulators around the world in recent years.
The private-equity giant is in the process of hiring an executive to run the company, which will manage its holdings of logistics properties close to towns and cities, according to people with knowledge of the matter. Blackstone has led a wave of investment into urban warehouses, betting that demand from online retailers such as Amazon.com Inc. will continue to push up rents and values. The last-mile logistics facilities, so called because of their proximity to population centers, are currently overseen by M7 Real Estate in a venture with Blackstone, they said.
Dewan Housing Finance Corp. is already behind schedule in meeting debt obligations as it missed paying 9.6 billion rupees of interest that was due on Tuesday on bonds, a company official said, adding that the debt would be serviced in the next seven days. The home financier is expected to get money from Blackstone Group LP on Monday from a previously agreed group unit sale. Timely repayment by Dewan Housing will help allay wariness in the nation’s credit markets, where infrastructure financier IL&FS Group’s default last year has prompted investors to stay away from debt of shadow lenders.
First some recap, the some deals: If you’re in real estate, then you likely saw that The Blackstone Group (NYSE: BX) made a massive purchase that was announced this week — 179 million square feet of urban, infill logistics real estate — from Singapore investment manager GLP. The $18.7 billion deal includes several metro Denver properties totaling 1.9 million square feet of space.
So, who performs better with their portfolio companies, publicly traded private equity firms or non-publicly traded ones?
A New York-based investment firm will purchase 179 million square feet of urban, infill logistics real estate, which includes 17 properties in Greater Cincinnati.
FT premium subscribers can click here to receive Due Diligence every day by email. The FT podcast that takes you up close with the best of our business journalism returns with DD’s Eric Platt discussing his reporting into Berkshire Hathaway and how Warren Buffett is thinking about its future. the 30th year anniversary of the massacre in Beijing’s Tiananmen Square, where the Chinese government cracked down on student protesters.
HONG KONG/BEIJING, June 4 (Reuters) - Tens of thousands joined a sombre candlelight vigil in Hong Kong on Tuesday to mark the 30th anniversary of Chinese troops opening fire on student-led democracy protesters in and around Tiananmen Square, as authorities in Beijing went into lockdown. Demonstrators gathered in the financial hub's Victoria Park, holding up candles and placards as others rallied next to a replica of the Goddess of Democracy statue, which was erected in Tiananmen Square during the 1989 demonstrations in Beijing.
Moody's Investors Service ("Moody's") says that GLP Pte. Ltd.'s ("GLP") (Baa3 stable) announcement on 3 June that it will sell assets from three of its US funds to Blackstone Group LP is credit positive, but has no immediate impact on GLP's Baa3 issuer and senior unsecured ratings or the stable outlook. "Pending on the close of the transaction, and if GLP plans to deploy a material part of the net proceeds from the asset sale to reduce its financial leverage, we expect only a moderate impact on its credit metrics given the small size of the net proceeds relative to its debt level," says Stephanie Lau, a Moody's Vice President - Senior Analyst. While this level of leverage is still high for the Baa3 rating, Moody's expects GLP's adjusted net debt/EBITDA (after JV adjustments) will continue to trend towards 9.0x over the next 12 months.
About a month ago, GLP, the Singapore logistics real estate giant, was reportedly mulling an IPO for its U.S. operations. In fact, with the June 2 announcement that it would sell 179 million square feet of logistics real estate assets to Blackstone Real Estate, GLP has pared back its U.S. exposure to virtually nothing by big-player standards. The $18.7 billion transaction, billed as the largest real estate deal ever between private global companies, would leave GLP with 8 million square feet of logistics real estate in the U.S. The U.S. market currently represents about one-quarter of GLP's global footprint, which stands at 785 million square feet.
KKR bought Goodpack for $1.1 billion in 2014 — one of the largest acquisitions made in Asia that year.