Blackstone is Converting to a Corporation
Posted on 04/19/2019
The Blackstone Group disclosed it is converting to a corporation from a publicly traded partnership. The conversion will be effective July 1, 2019 and eliminates the Schedule K-1.
Stephen A. Schwarzman, Chairman, CEO and Co-Founder said in a press release, “I am pleased to announce the compelling next step in Blackstone’s evolution as a public company: the firm’s conversion to a corporation. Blackstone has established itself as one of the leading public companies in the world, with robust long-term revenue and earnings growth and one of the most powerful brands in financial services. We believe the decision to convert will make it significantly easier for both domestic and international investors to own our stock and should drive greater value for all of our shareholders over time.”
