Wall Street giants Blackstone and Citadel have reportedly held talks about a massive deal to combine their powers

Business Insider Finance 1 month ago
  • Wall Street giants Blackstone Group and Citadel have reportedly held deal talks. 
  • Blackstone has held discussions to take a stake in the hedge fund itself as well as its securities-trading business, according to a report in The Wall Street Journal.
  • While a deal isn't certain, it would represent a tie-up of two of the most preeminent names in investing. 

Two of Wall Street's most legendary investment firms have reportedly discussed a deal to combine their powers. 

Private-equity behemoth Blackstone Group has reportedly held talks to take in stake in Citadel, the Chicago-based hedge fund run by billionaire Ken Griffin, according to a report in The Wall Street Journal by Rachael Levy and Liz Hoffman. 

Blackstone, which is helmed by billionaire Steve Schwarzman, has been sizing up an investment in Citadel's flagship fund as well as its separate market-making business, Citadel Securities, according to the report. 

How hefty a price tag Citadel would fetch from Blackstone wasn't immediately clear — Citadel execs reportedly value the hedge fund alone at $5 billion to $7 billion — and the Journal reported that the discussions were "occasionally contentious and not certain to result in a deal."

A Blackstone spokeswoman told WSJ they are not in discussions "at this time," while Citadel spokesman Zia Ahmed said a "number of investors have expressed interest in our management company" over its three-decade long run. 

With $32 billion in assets under management, Citadel is one industry's largest and most successful hedge funds. That's helped Griffin amass a fortune of nearly $13 billion, according to Forbes. 

Blackstone, meanwhile, is the world's largest private-equity firm, with more than $500 billion in assets under management. Schwarzman's net worth is nearly $17 billion.


Source link
Read also:
The Wall Street Journal › Finance › 1 month ago
Blackstone has discussed buying a stake in Ken Griffin’s Citadel, whose hedge fund could be worth between $5 billion and $7 billion.
Chicago Tribune › Finance › 1 month ago
Blackstone Group Inc. held talks about buying a stake in Ken Griffin's flagship hedge fund, people familiar with the matter said.
Business Insider › Finance › 0 month ago
Lisa Picard, chief executive of Blackstone's EQ Office, outlined her view of the future of proptech and how real estate companies can put new tech to use at a presentation at a CREtech event last week. Blackstone purchased the EQ Office portfolio...
One America News Network › Finance › 3 weeks ago
(Reuters) - Fiat Chrysler and Peugeot owner PSA are in talks to combine in a deal that could create a $50 billion auto giant, the Wall Street Journal reported on Tuesday, citing sources.
Reuters › Finance › 3 weeks ago
Fiat Chrysler and Peugeot owner PSA are in talks to combine in a deal that could create a $50 billion auto giant, the Wall Street Journal reported on Tuesday, citing sources.
Business Insider › Finance › 23 hours ago
Jon Korngold has been busy building out a division within Blackstone dedicated to investing in fast-growing companies. Business Insider spoke with more than a dozen people who know Korngold to learn more about the 45-year-old investor behind Blackstone...
USA Today › Sports › 3 weeks ago
Brandon Rainey ran for 120 yards and a score and threw for another touchdown as The Citadel held off Mercer 35-24 to post its first winning record of the season on Saturday
USA Today › Sports › 1 month ago
Liam Welch scored on a 2-yard run in the fourth overtime and Samford held off The Citadel 61-55
One America News Network › Finance › 0 month ago
By Svea Herbst-Bayliss BOSTON (Reuters) - A senior Blackstone Group executive who oversaw special situations investments at the private equity giant's hedge fund unit Blackstone Alternative
Reuters › Finance › 0 month ago
A senior Blackstone Group executive who oversaw special situations investments at the private equity giant's hedge fund unit Blackstone Alternative Asset Management, has left the firm, two people familiar with the matter said.
Sign In

Sign in to follow sources and tags you love, and get personalized stories.

Continue with Google
OR