BX - The Blackstone Group L.P.

NYSE - NYSE Delayed Price. Currency in USD
-0.01 (-0.02%)
At close: 4:01PM EDT
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Previous Close44.19
Bid0.00 x 800
Ask0.00 x 2200
Day's Range43.76 - 44.47
52 Week Range26.88 - 45.64
Avg. Volume4,753,856
Market Cap53.105B
Beta (3Y Monthly)1.61
PE Ratio (TTM)18.15
EPS (TTM)2.43
Earnings DateJul 17, 2019 - Jul 22, 2019
Forward Dividend & Yield1.48 (3.35%)
Ex-Dividend Date2019-04-26
1y Target Est46.91
Trade prices are not sourced from all markets
  • Bloomberg2 hours ago

    CVC Nears $1 Billion Deal for Stake in GEMS Education

    (Bloomberg) -- CVC Capital Partners is close to a deal for a 25% stake in Dubai’s GEMS Education, a private school operator backed by Blackstone Group LP, that values the firm at more than $4 billion, people familiar with the matter said.CVC may pay $1 billion or more for the holding and a deal could be announced in the coming days, the people said, asking not to be identified because the deliberations are private. No final decisions have been made and the London-based private equity firm may still decide against a deal.Representative for GEMS and London-based CVC declined to comment.Blackstone and other investors -- including Fajr Capital Ltd., Bahrain’s sovereign wealth fund Mumtalakat Holding Co. and the Varkey Group -- began exploring other options for their holdings in GEMS last year after the company put plans for an initial public offering on hold, people familiar with the matter said at the time. The share sale was postponed after the government said it planned to freeze school fees, hurting the firm’s earnings projections, people said.A private equity firm had approached GEMS’s owners last year about buying a stake, but it was rebuffed in favor of the IPO, people familiar with the matter said at the time.Parents in the United Arab Emirates spend more on education than families anywhere else in the world except for Hong Kong, according to a 2017 study from HSBC Holdings Plc. That’s contributed to a glut of new schools opening last year, even after the U.A.E. cracked down on fees. Dubai said in March that it will allow most schools to raise their tuition again in the next academic year.Last month, GEMS teamed up with a Saudi investment firm to buy the kingdom’s largest private school operator, Maarif for Education & Training. Maarif operates about 100 schools and has plans to build another 50.GEMS also had 47 schools across the U.A.E and Gulf region as of February 2018, with about 118,000 students enrolled, according to its financial report.\--With assistance from Nicolas Parasie, Matthew Martin and Arif Sharif.To contact the reporters on this story: Dinesh Nair in London at dnair5@bloomberg.net;Sarah Syed in London at ssyed35@bloomberg.net;Archana Narayanan in Dubai at anarayanan16@bloomberg.netTo contact the editors responsible for this story: Dinesh Nair at dnair5@bloomberg.net, ;Stefania Bianchi at sbianchi10@bloomberg.net, Amy ThomsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters2 hours ago

    UPDATE 1-Australia's Scentre sells Sydney office towers for $1.1 bln

    Australian shopping mall owner Scentre Group Ltd on Thursday said it has disposed of its Sydney CBD office towers for A$1.52 billion ($1.06 billion) and announced a share buyback programme worth A$800 million. Scentre will grant a 299-year leasehold interest to Blackstone over the office components, the company said.

  • Moody's7 hours ago

    Badger Finance, LLC -- Moody's affirms Badger Finance rating at B3; revises outlook to negative

    Moody's Investors Service, ("Moody's") has affirmed the ratings of Badger Finance, LLC ("Trilliant") and revised the outlook to negative from stable. Ratings affirmed are the B3 Corporate Family Rating, B3-PD Probability of Default Rating and B3 senior secured debt rating. The negative outlook reflects the company's weakened financial flexibility due to heavy use of its liquidity facility.

  • Business Wire9 hours ago

    Blackstone Announces Second Quarter 2019 Investor Call

    Blackstone announced today that it will host its second quarter 2019 investor conference call on July 18, 2019 at 9:00 a.m. EST. You can listen to the call by dialing +1 391-6747 (U.S.

  • Business Wire17 hours ago

    Dan Oneglia to Join Blackstone’s GSO as Co-Head of Distressed Investing

    Blackstone (BX) today announced that its global credit platform, GSO Capital Partners (GSO), has hired Dan Oneglia as a Senior Managing Director and Co-Head of its Distressed Investing business. Mr. Oneglia joins from Goldman Sachs where he spent 20 years, and most recently served as a Portfolio Manager and Head of Multi-Strategy Investing in the Americas Special Situations Group.

  • Blackstone Group (BX) Stock Moves -0.47%: What You Should Know
    Zacks2 days ago

    Blackstone Group (BX) Stock Moves -0.47%: What You Should Know

    Blackstone Group (BX) closed the most recent trading day at $44.19, moving -0.47% from the previous trading session.

  • Reuters2 days ago

    Blackstone CEO says Kushner's Mideast peace plan "not unachievable"

    Blackstone Group chief executive Stephen Schwarzman said on Tuesday that an economic plan presented by White House senior adviser Jared Kushner for the Palestinian territories was "not unachievable". It's not that much," Schwarzman said at an economic summit in Bahrain to encourage investment in the Palestinian Territories.

  • Reuters2 days ago

    Troubled Indian mortgage lender DHFL again misses debt payments

    Indian mortgage lender Dewan Housing Finance Corp Ltd (DHFL) said it had only been able to make a 40 percent payment on unsecured commercial papers due on Tuesday, but vowed to pay the remaining 2.25 billion rupees ($32.49 million) in the coming days. India's shadow banking sector has been thrown into disarray after a series of defaults at large lender Infrastructure Leasing and Financial Services last year triggered fears about contagion in the financial sector. Two major credit ratings agencies - ICRA, an affiliate of Moody's, and Standard & Poor's local unit Crisil - earlier this month categorised DHFL's commercial paper at default levels for missing bond payments.

  • MoneyShow2 days ago

    Is Blackstone the Best Bull Market Stock

    In the right environment, we like to hop on board the best bull market stocks--such as asset managers that thrives with rising stock prices and asset values, explains Mike Cintolo, editor of Cabot Growth Stock Investor.

  • Reuters3 days ago

    UPDATE 8-US launches economic formula for Middle East peace, Palestinians unhappy

    The Trump administration launched a $50 billion economic formula for Israeli-Palestinian peace on Tuesday, saying an investment programme for the Palestinians was a precondition for ending the decades-old conflict. U.S. President Donald Trump's senior adviser and son-in-law Jared Kushner opened a two-day international meeting in Bahrain to rally support for the blueprint, which has met broad disdain from Palestinians and others in the Arab world although regional U.S. allies such as Saudi Arabia discreetly support it.

  • Bloomberg5 days ago

    White House Unveils its Palestinian ‘Peace to Prosperity’ Plan

    (Bloomberg) -- The Trump administration will roll out the first part of its long-awaited Middle East peace plan, which aims to raise billions to help Palestinians and other Arabs in the region. Top Trump officials and business leaders will attend the unveiling of the plan, spearheaded by Jared Kushner, the president’s son-in-law, at a summit Tuesday in Bahrain.Speakers at the investment summit will include business leaders including Stephen Schwarzman, chairman of Blackstone Group, Randall Stephenson, chairman of AT&T, and Tom Barrack, chairman of Colony Capital Inc., as well as World Bank President David Malpass and IMF Managing Director Christine Lagarde, according to an administration official who declined to be identified because the details aren’t yet public.On hand from the administration will be Treasury Secretary Steven Mnuchin, special envoy Jason Greenblatt, Brian Hook, U.S. special representative for Iran, and Kevin Hassett, the outgoing chairman of the Council of Economic Advisers, and others.The White House on Saturday unveiled a proposal to raise more than $50 billion in investments for the Palestinians, the centerpiece of the Bahrain meeting and the peace plan. Palestinian officials plan to skip the event and have criticized the U.S. approach to focus first on the investment plan.Global Investment FundTrump pledged not long after his election to find the “ultimate deal” between Israel and the Palestinians. Since then, Palestinians have since essentially broken off contact, saying Trump’s strong ties to Israel do not make him an honest broker.The 40-page document from the Trump administration includes the creation of a global investment fund that the U.S. hopes will lift Palestinian and neighboring Arab state economies.The Kushner-led initiative was created with no formal Palestinian consultation, and Palestinian officials rejected the U.S. model again on Saturday after the plan was revealed.“A-B-C economics is that no monetary value can predicate or substitute economic sovereignty, which is the first requirement for prosperity,” said Hosam Zomlot, the Palestinian Authority’s ambassador to the U.K. “Omitting Israeli occupation of Palestine is self-explanatory: the plan is designed to perpetuate it.”One Million JobsThe Kushner-led plan aims to facilitate more than $50 billion in new investment over 10 years with the aim of doubling the size of the Palestinian economy over that time, creating more than 1 million jobs and cutting the poverty rate in half.More than half -- $27.8 billion -- would go to Gaza and the West Bank. Egypt would get $9.2 billion, Jordan, $7.4 billion and Lebanon $6.3 billion.A signature project would be a $5 billion transportation network connecting Gaza to the West Bank designed to “fundamentally change the Palestinian economy,” according to the White House. It would include an interurban rail line linking many of the major cities of Gaza and the West Bank -- the two separate geographic areas that split Palestinians physically -- as well as connections to regional railways such as Jordan’s.Among more than 200 proposed programs and projects are $2 billion to expand the Palestinian internet, $1 billion to help develop the Gaza Marine natural gas field, and $900 million for hospitals and health care facilities to acquire and upgrade equipment.Foreign Direct Investment“Ultimately, this project has the potential to unlock unprecedented levels of trade, grow exports, and increase foreign direct investment in the West Bank and Gaza and its neighbors -- particularly Egypt, Israel, and Jordan,” according to the White House plan.Official delegations are expected in Bahrain from 21 countries including the U.S., Japan, Oman, Egypt, Jordan, Saudi Arabia, the United Arab Emirates, Qatar, Italy, U.K. and France, according to the administration official. Total countries represented are 39.“For too long the Palestinian people have been trapped in inefficient frameworks of the past. The ‘Peace to Prosperity’ plan is a framework for a brighter, more prosperous future for the Palestinian people and the region and a vision of what is possible if there is peace,” Kushner said in a statement.‘Lift the Siege’Hanan Ashrawi, a member of the PLO Executive Committee, criticized Trump’s approach to seeking a Middle East peace accord.“First lift the siege of Gaza, stop the Israeli theft of our land, resources & funds, give us our freedom of movement & control over our borders, airspace, territorial waters etc. Then watch us build a vibrant prosperous economy as a free & sovereign people,” Ashrawi said on Twitter.Left for later -- perhaps after Israel’s elections in September -- is the political component of the plan, U.S. proposals on long-unresolved questions such as the control of Jerusalem, the fate of Israel’s West Bank settlements and the Palestinians’ aspiration for their own state.In the development plan funds would also be set aside for improved courts and other elements of Palestinian governance, but with no reference independent statehood or the other contentious elements.(Updated to include Palestinian comment.)\--With assistance from Hailey Waller, Sebastian Tong, Michael S. Arnold and Fadwa Hodali.To contact the reporters on this story: Margaret Talev in Washington at mtalev@bloomberg.net;Rich Miller in Washington at rmiller28@bloomberg.netTo contact the editors responsible for this story: Matthew G. Miller at mmiller144@bloomberg.net, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • New name, new amenities: Playa District unveils upgraded campus (PHOTOS)
    American City Business Journals6 days ago

    New name, new amenities: Playa District unveils upgraded campus (PHOTOS)

    Previously called Howard Hughes Center, the West Los Angeles property has completed a $32 million renovation inspired by “the coast Southern California lifestyle.”

  • 100 Summer lands WeWork ahead of tower's possible sale
    American City Business Journals6 days ago

    100 Summer lands WeWork ahead of tower's possible sale

    Co-working giant WeWork is leasing yet another office in Boston, this time a 117,000-square-foot, three-floor spot at 100 Summer St. WeWork will house 2,300 desks at the tower, which Blackstone owns through its EQ Office arm.

  • Financial Times6 days ago

    Is for-profit investment in social housing a good or a bad thing?

    The two-bedroom brick house in the village of Dunchurch in central England looks much like any other freshly built home in the UK: newly turfed garden, mullioned windows, magnolia-painted walls waiting for pictures to be hung. The home is among those recently made available, in this case under a shared ownership deal, by Sage Housing, a fast-growing provider of affordable homes that is majority-owned by the US real estate giant Blackstone. Blackstone is among hundreds of companies — including private equity groups, fund managers, institutions, listed real estate groups and others — that see big business in affordable housing.

  • PR Newswire6 days ago

    Blackstone Mortgage Trust Announces Pricing Of Public Offering Of Class A Common Stock

    NEW YORK , June 20, 2019 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the "Company") today announced the pricing of an underwritten public offering of 7,500,000 shares of its ...

  • PR Newswire7 days ago

    Blackstone Mortgage Trust Announces Public Offering Of Class A Common Stock

    NEW YORK , June 20, 2019 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the "Company") today announced it has commenced an underwritten public offering of 7,500,000 shares of its ...

  • Market Exclusive7 days ago

    Market Morning: Iran Downs Drone, Gold Breaks Through, Mexico Approves USMCA

    The Persian Gulf is Boiling Iran shot down a US drone in the Straits of Hormuz, the narrowest point of the Persian Gulf, the biggest oil shipping lane in the world. The Iran Revolutionary Guards claimed credit for the move, the first time the country has admitted to playing a role in blowing something up […]The post Market Morning: Iran Downs Drone, Gold Breaks Through, Mexico Approves USMCA appeared first on Market Exclusive.

  • Bloomberg8 days ago

    Oxford, Please Don't Blow Schwarzman's Millions

    (Bloomberg Opinion) -- Stephen Schwarzman didn’t become a billionaire by wasting money. The Blackstone Group LP co-founder had better make sure that Oxford University doesn’t squander his record 150 million-pound ($189 million) gift to construct a new building.Predictably, the donation has been met with online criticism of the donor for making money from private equity and for not giving the cash to more worthy causes. Oxford has also been attacked for accepting the bounty. This is misplaced. Fortunes aren’t made by squirreling away pennies in savings accounts. Would the critics prefer Schwarzman spent it on himself?The gift, which will allow Oxford to gather most of its arts faculties in one place as well as house a new center for the study of ethics in artificial intelligence, is a welcome endorsement of the value of humanities in modern education, as the university says. It also shows that Oxford can raise serious money privately, something it may have to do more of.Oxford has in recent years undertaken several large building projects that were delivered successfully. It is accustomed to seeing that large donations are well spent. But this benefaction is on another scale.There must be concerns. The use of proceeds here isn’t an obvious priority. The university’s arts faculties already have homes, but this project will give them a new shared one, with additional resources such as a theater and broadcast studio. That’s clearly an ideal setup. Collaboration and good ideas come when people bump into each other. What’s more, the facilities should enable Oxford to better compete for post-doctoral and academic expertise globally. Other U.K. universities, already at a resource disadvantage, can only look on with increasing despair.While the ethics of anything is a cause worthy of financial support, only a handful of new academic posts are being created. The University is having to launch a separate fundraising program to beef out the faculty.And it’s debatable whether this new facility will make the slightest difference to recruiting undergraduates. This highlights an important strategic question for Oxford. Does it wish to be a top center for research, or the world-leading university for undergraduate teaching? It is a myth that there is a causal relationship between the two.The big risk here is that Schwarzman’s gift is squandered by the uniquely dysfunctional governance of the university. The institution has three power bases – the central university, the faculties and the individual (and autonomous) colleges to which students and academics are attached. Straddling these are various committees, often with shared functions. It is a structure that is inimical to good decision-making, or often any decision at all.The creation of Oxford’s business school two decades ago was hampered by internal wrangling such as whether it could offer academics more than the standard university pay scale allowed to lure top talent from the likes of Harvard and Insead. Oxford has seen some reforms since then, but the fundamental framework persists.The scope for paralysis is high with so many departments involved and the project at such an early stage. This being Oxford, the likelihood is that no single individual will have full power over how the money is spent. One committee, though, will oversee the project, chaired by David Prout, the former boss of Britain’s HS2 high-speed rail project. Hopefully, this panel will be able to make decisions like a corporate board.Schwarzman’s building will go up one day and will be a welcome addition. But the drama is likely to be as much in its construction as in its spaces for the performing arts.(Updates to add recent building projects in fourth paragraph and committee chairman in penultimate paragraph.)To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Schwarzman, Never an Oxford Student, Gives School $188 Million
    Bloomberg8 days ago

    Schwarzman, Never an Oxford Student, Gives School $188 Million

    (Bloomberg) -- Stephen Schwarzman gave the University of Oxford its largest donation since at least the Renaissance, even though the Blackstone Group LP co-founder never studied there.The 150 million pounds ($188 million) contribution will help pay for a new humanities building and the creation of an institute to study the ethics of artificial intelligence, Oxford said in a statement. The Schwarzman Centre will be within the Radcliffe Observatory Quarter, just north of the city center, and will feature a 500-seat concert hall and 250-seat auditorium.The ethics institute “won’t just use the humanities, which are an unusual asset of Oxford,” Schwarzman said in a Bloomberg TV interview Wednesday. “We’ll use the other major parts of the university. If you can bring all that to bear, we’ll have better outcomes.”The private equity billionaire studied at Yale University and then got an MBA from Harvard Business School. He emerged as a major philanthropist in 2008 with a $100 million gift to the New York Public Library. In October, he gave $350 million to help establish a college of computing at the Massachusetts Institute of Technology. His name also will be on a campus center at Yale, and he created the Schwarzman Scholars program at Tsinghua University in Beijing to educate future global leaders about China.Fundraising EffortsThe size of the donation is unusual for U.K. universities, whose fundraising efforts trail their counterparts in the U.S. When hedge fund manager David Harding gave 100 million pounds to Cambridge University in February, it was at the time the biggest single private gift to a U.K. college from a British philanthropist. The nation’s universities have collectively received about $1 billion a year on average from donors since 2007, according to data compiled by Bloomberg.Schwarzman’s gift exceeds the 75 million pounds that British venture capitalist Michael Moritz donated to Oxford in 2012. Microsoft Corp. co-founder Bill Gates and his wife, Melinda, hold the title for the biggest private donation to a U.K. university after giving $210 million to Cambridge in 2001 to fund a scholarship program.Schwarzman, 72, is worth $15.2 billion, according to the Bloomberg Billionaires Index. Since founding Blackstone in 1985 with former Lehman Brothers Holdings Inc. boss Peter Peterson, he’s collected more than $5 billion alone from a combination of stock sales, dividends and compensation. Blackstone had more than $500 billion of assets under management at the end of March, according to its website.Oxford HistoryTeaching in Oxford dates back to at least 1096, according to the university’s website. It was formally recognized by the early 13th century and has educated 27 British prime ministers, including Theresa May and her potential successor Boris Johnson. Oxford has an endowment fund with almost 3.5 billion pounds of assets under management.The donation is designed to also launch a fundraising campaign. Schwarzman said Brexit won’t affect the work his gift is intended to foster.“Things in the short term are not nearly as important as what we’re trying to do in the long term,” he said. “From my perspective on this gift, what’s important is we set up the right structure for 100 years, 200 years.” \--With assistance from Francine Lacqua.To contact the reporters on this story: Ben Stupples in London at bstupples@bloomberg.net;Heather Perlberg in Washington at hperlberg@bloomberg.netTo contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Patrick Henry, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times8 days ago

    FirstFT: Today’s top stories 

    FT subscribers can  click here to receive FirstFT every day by email. Donald Trump and Xi Jinping are to hold a  bilateral meeting later this month at the G20 summit in Japan.  The two men spoke on the ...

  • Blackstone chief donates $188 million to Oxford University
    Reuters9 days ago

    Blackstone chief donates $188 million to Oxford University

    The head of private equity firm Blackstone has pledged 150 million pounds ($188.37 million) to Oxford University, the biggest single donation in its history, to fund a center for humanities that would also house an institute to study the ethics of artificial intelligence. Stephen Schwarzman, chairman, chief executive and co-founder of Blackstone which has about $500 billion in assets, said the donation would fund the Schwarzman Centre that would support programs ranging from history to music.

  • Blackstone Group (BX) Stock Sinks As Market Gains: What You Should Know
    Zacks9 days ago

    Blackstone Group (BX) Stock Sinks As Market Gains: What You Should Know

    In the latest trading session, Blackstone Group (BX) closed at $43.39, marking a -1.92% move from the previous day.