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Article: Blackstone CEO sees brighter future for dealmaking
- Article from:
- AP Worldstream
- Article date:
- October 14, 2009
- Author:
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The head of private equity giant Blackstone Group said Wednesday the industry's worst days have passed as he confirmed plans to cash in on up to eight of the firm's companies "in the near future."
And although concerns remain about the strength of the economy, especially in the U.S. and parts of Europe, new investment opportunities are beginning to emerge, Blackstone Chairman and CEO Stephen Schwarzman said.
"It looks as if a bottom has been reached," he said, adding that the world's financial system is in "a radically different place" from its precarious state a year ago.
Renewed optimism from Blackstone and other big private equity firms ...