Negative Q3 Revenue Not Stopping Blackstone From Doing Deals
November 8th, 2008The Blackstone Group released its third quarter earnings report this week in which investment write downs helped generate a new private equity term, that being negative revenue. Currently, a third of Blackstone’s portfolio resides in red territory reflecting deals and valuations of a different time.
However, despite the troubling numbers, Blackstone hasn’t let up on making new investments. So far in the second half of 2008, Blackstone has announced six new transactions, including four in the last two months.
See all of Blackstone’s YTD investments below.
| Target | Deal Type | Size | Date |
|---|---|---|---|
| source: Blackstone | |||
| Bayview Financial | Equity - Minority | $332 M | 10/2008 |
| Apria Healthcare | Equity - Control | $1,700 M | 10/2008 |
| The Weather Channel | Equity - Joint Control | $3,630 M | 09/2008 |
| Bluestar | Equity - Minority | $600 M | 09/2008 |
| AlliedBarton Security | Equity - Control | $756 M | 08/2008 |
| Osum Oil Sands | Equity - Joint Control | $478 M | 08/2008 |
| Crestwood Midstream | Equity - Joint Control | $500 M | 06/2008 |
| Performance Food | Equity - Control | $1,400 M | 05/2008 |
| PBF Energy | Equity - Joint Control | $2,000 M | 03/2008 |
| Allcargo | Equity - Minority | $574 M | 02/2008 |
| Harrah’s Entertainment | Equity - Minority | $31,300 M | 01/2008 |
Tags: The Blackstone Group