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Blackstone prices $4.1bn IPO22/06/2007. Source: AltAssets. 
 US buy-out giant The Blackstone Group has priced its IPO at the top end of the range. The IPO of 133.33 million common units representing limited partner interests in Blackstone has been priced at $31 per share. With $4.133bn raised this IPO is one of the largest in US history.
Blackstone intends to use a portion of the proceeds from the IPO and the concurrent sale of $3bn of non-voting common units to an investment vehicle established by the People's Republic of China with respect to its foreign exchange reserve to purchase interests in its business from its existing owners, to repay short-term borrowings, to provide capital to invest in its existing businesses and to expand into complementary new businesses and for other general corporate purposes.
Stephen Schwarzman, who founded the firm together with Peter Peterson, could have made almost $930m from the IPO, Dow Jones LBO Wire estimated.
Blackstone is one of the largest independent alternative asset managers in the world. Its alternative asset management businesses include the management of corporate private equity funds, real estate opportunity funds, funds of hedge funds, mezzanine funds, senior debt funds, proprietary hedge funds and closed-end mutual funds.
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