Blackstone-d: Behind a Monster IPO Flop

The massive Blackstone IPO last year was an epochal moment along at least three dimensions. First, it was a gigantic IPO, the sixth largest in U.S. history. Second, it represented a near-term market top in private equity. And third, the stock collapsed post-IPO, falling by half since, turning this biggest IPO into a big headache for investors.

The good folks at Breakingviews were appropritely skeptical at the outset, and have done a nice of covering Blackstone’s becoming "Blackstone-d) in realtime. They’ve now wrapped the whole package up in a book-like format, which you can check out here.


  1. What are you getting when you buy a piece of a hedge fund’s operations?