Shares in Blackstone Group fall below IPO price
{{date|June 29, 2007}}

Stock in the [[w:Blackstone Group|Blackstone Group]], a major [[w:Private equity|private equity]] founded by [[w:Peter George Peterson|Peter G. Peterson]] and [[w:Stephen A. Schwarzman|Stephen Schwarzman]], has fallen below its [[w:Initial public offering|initial public offering]] price of US$31.00. 

Blackstone L.P. ([[w:New York Stock Exchange|NYSE]] symbol: BX) initially soared 13 percent after being offered on the New York Stock Exchange last week. However, lately the stock has dropped to below $30. The stock was issued to brokerages for $31 a share. 

Some fear that the so-called "Private Equity Boom" may be at its peak. Others attribute the falling price to recent discussions in Washington of changing laws that  critics call "loopholes," which allow such firms to pay capital gains tax instead of income tax.

==Sources==
*{{source|url=http://www.foxnews.com/story/0,2933,286798,00.html
|title=The Blackstone Group: Private Equity Goes Public
|author=Terry Keenan
|pub=Fox News
|date=June 29, 2007}}
*{{source|url=http://www.domain-b.com/finance/institutions/20070629_carlyle.html
|title=Carlyle halts IPO of affiliate
|author=
|pub=domain-b.com
|date=June 29, 2007}}
*{{source|url=http://www.cnbc.com/id/19507513
|title=CBOE to Offer Options on Blackstone Group Starting Monday
|author=
|pub=CNBC
|date=June 29, 2007}}

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[[Category:North America]]
[[Category:United States]]
[[Category:Economy and business]]
Stock in the Blackstone Group, a major private equity founded by Peter G. Peterson and Stephen Schwarzman, has fallen below its initial public offering price of US$31.00. 

Blackstone L.P. (NYSE symbol: BX) initially soared 13 percent after being offered on the New York Stock Exchange last week. However, lately the stock has dropped to below $30. The stock was issued to brokerages for $31 a share. 

Some fear that the so-called "Private Equity Boom" may be at its peak. Others attribute the falling price to recent discussions in Washington of changing laws that  critics call "loopholes," which allow such firms to pay capital gains tax instead of income tax.
North America United States Economy and business