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NEW YORK (AP) - Blackstone Group LP, manager of the world's second-largest buyout fund, moved up its much-hyped $4.75 billion initial public offering to this week amid growing scrutiny of the firm on Capitol Hill and in the media.
The New York-based buyout shop, which controls a portfolio of companies from Madame Tussauds wax museums to real estate goliath Equity Office Properties Trust, could join the ranks of the New York Stock Exchange by Friday morning. The landmark deal, originally scheduled for sometime next week, will likely go down as the fourth-biggest IPO in U.S. history.
The unexpected move to speed up the offering comes amid speculation that Chief Executive Stephen Schwarzman might be having second thoughts. A spokesman for Blackstone would not comment, citing the quiet period for initial public offerings.
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