Blackstone CEO Schwarzman on first quarter earnings, fundraising - Business Insider

"We had one fund that was supposed to be having a big due-diligence meeting with, I think it was over 130 or 150 different attendees, and it was just done on Zoom," CEO Stephen Schwarzman told analysts.While the coronavirus pandemic has made it hard for first-time funds to raise money from investors, The Blackstone Group has been wooing institutions remotely.

That's in contrast to smaller funds that are having a more difficult time raising capital, according to attorneys and placement agents. "We had one fund that was supposed to be having a big due-diligence meeting with, I think it was over 130 or 150 different attendees, and it was just done on Zoom," CEO Stephen Schwarzman told analysts.

After its outdoor, hospitality, energy and casino investments took a hit because of the coronavirus, the economic toll started to show in its first-quarter earnings, when the firm said that the value of its private equity funds fell by 21.6%. In other areas of the private-equity industry — namely, firms that are in the process of raising their first funds — due diligence meetings are not quite as easy to convene.

How will this affect the demand for business travel going forward? How will this affect home offices going forward? What does this mean for 'jurisdiction' in a legal context?

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

YouTube CEO suggests platform will ban videos contradicting WHO guidance - Business InsiderYouTube's CEO suggested content that 'goes against' WHO guidance on the coronavirus will get banned Pathetic leadership. I'm boycotting youtube and will now only watch pornhub. Let the global censorship begin. Why stop with WHO, let's include governments too. Let's cheer in the age of fascism and closed borders, under the banner of stay home, save lives, obey. 'This is how liberty dies, with thunderous applause'. What about lies of WHO and China ?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Epic CEO Judy Faulkner on how coronavirus will change US healthcare - Business InsiderBankruptcies, tech-savvy doctors, and data for the greater good: The CEO of health-tech giant Epic shares her predictions for how US healthcare will change after the coronavirus
Source: BusinessInsider - 🏆 729. / 51 Read more »

Intel CEO says coronavirus won't stop data center focus - Business InsiderThe CEO of Intel says that the 'disruptions' of the pandemic aren't going to change its focus on the lucrative data center business: 'The environment is uncertain, but our priorities are unwavering'
Source: BusinessInsider - 🏆 729. / 51 Read more »

AT&T CEO Randall Stephenson is retiring, and COO John Stankey will replace him - Business InsiderJohn Stankey will take over as CEO of AT&T on July 1. Randall Stephenson will serve as executive chairman of the board. $T 1M Price MAVG spread suggest a price fall typically occurs in T:NYSE - At & from here (TOGGLEbot
Source: BusinessInsider - 🏆 729. / 51 Read more »