Blackstone Group
From SourceWatch
The Blackstone Group is a private investment banking firm and describes itself as a "leading global investment and advisory firm." The Blackstone Group was founded in 1985 by a group of four, including Peter G. Peterson and Stephen A. Schwarzman.
The Blackstone Group has ties to American International Group, Inc. (AIG) and Kissinger Associates, Inc./Henry Kissinger. According to the Blackstone website, AIG acquired a 7% non-voting interest in the company in 1998 for $150 million "and committed to invest $1.2 billion in future Blackstone-sponsored funds".
"Blackstone has developed strategic alliances with some of the largest and most sophisticated international financial institutions. In addition to AIG, they include Kissinger Associates, Roland Berger & Partner, GmbH, and Scandinaviska Enskilda Banken," the website states. <1>
The company's Blackstone Alternative Asset Management unit handles $1 billion in hedge funds for pension giant CalPERS.
John Forbes Kerry 2004 campaign 'adviser' Roger C. Altman was Vice Chairman of The Blackstone Group from 1987 through 1992 "where he led that firm's merger advisory business". <2>
In December 2001, The Blackstone Group was appointed as Enron's principal financial advisor with regard to its financial restructuring.<3> The company also advised Enron on "the Sale of its North American Power and Gas Trading Business to UBS". <4>
The Blackstone Group is also handling the restructuring of Global Crossing. <5>
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