Case | HBS Case Collection | March 2008 (Revised May 2008)

The Blackstone Group's IPO

by Felda Hardymon, Josh Lerner and Ann Leamon

Abstract

Steven Schwarzman, Chairman of the Blackstone Group, has just learned that an investment group associated with the government of China wants to buy the majority of Blackstone's leveraged IPO. As he considers how to respond to this offer, Schwarzman reviews the firm's proposed structure as a public entity and assesses how he might retain the delicate balance among stakeholders while still maintaining liquidity in the market.

Keywords: Private Equity; Financial Liquidity; Initial Public Offering; Investment; Ownership Stake; Business and Stakeholder Relations;

Citation:

Hardymon, Felda, Josh Lerner, and Ann Leamon. "The Blackstone Group's IPO." Harvard Business School Case 808-100, March 2008. (Revised May 2008.)