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Blackstone Plans to Convert to a Corporation After KKR, Ares (2)

April 18, 2019, 11:47 AM

Blackstone Group LP plans to convert to a corporation from a publicly traded partnership after watching two of its rivals benefit from the move.

“We believe the decision to convert will make it significantly easier for both domestic and international investors to own our stock and should drive greater value for all of our shareholders over time,” Stephen Schwarzman, chief executive officer of the world’s largest alternative asset manager, said in a statement April 18.

Private equity firms including Blackstone have seen their stock prices lag since going public even as investors have poured money into their buyout, credit, real ...

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