As the article states, time to "reap some green shoots" before they die. This is f**king laughable. http://blogs.reuters.com/reuters-dealzone/2009/10/12/wheres-the-bull-blackstones-ipo-plans/ DealZone Behind the deals and deal-makers 09:06 October 12th, 2009 Whereâs the bull? Blackstoneâs IPO plans Posted by: Chris Kaufman Time to reap some green shoots? Private equity firm Blackstone plans to list up to eight of its portfolio companies, aiming to make more hay from improved stock markets. Rival Kohlberg Kravis Roberts & Coâs Dollar General filed for an initial public offering of up to $750 million in August, and KKR is considering others, sources previously told Reuters. Blackstone is positioning one company â hospital staffing firm Team Health â for an IPO and evaluating the potential for seven others, a source tells us, citing a letter sent from Blackstone to investors. The letter also says Blackstone is in the process of selling five companies outright, which it sees generating aggregate proceeds of $2.8 billion. One of the exits is Kosmos Energyâs Ghanaian oil interests, the source who has the letter said. Sources previously told Reuters that Exxon Mobil had agreed to buy Kosmos Energyâs stake in the Jubilee field. Kosmos is backed by Blackstone and Warburg Pincus.
I got my ass kicked on bagstone and FIG before that but I'm glad to see some IPO activity mainly because I'm in on KFN and these cos are back in the business of doing business.
Blackstone is about to unload some leveraged and overpriced assets onto a greater fool (if they can). I guess they're "back in the business" of selling tops... They sure as hell sold real property at the absolute top...perfect timing on that for their shareholders buying into their IPO.