• Dec 31, 2002

    Sale of Houghton Mifflin Completed

    BOSTON - December 31, 2002 - Houghton Mifflin Company today announced the completion of the sale of the Company to a consortium of private investment firms comprised of Thomas H. Lee Partners, Bain Capital and funds managed by The Blackstone Group. The leading Boston-based publisher, with over $1 billion in sales, was acquired from Vivendi Universal for $1.66 billion.
  • Dec 03, 2002

    Blackstone Closes First CLO Fund on $600 Million

    New York: December 3, 2002: The Blackstone Group today announced the closing of one of the largest Collateralized Loan Obligation vehicles of this year. Hanover Square CLO Ltd., The Blackstone Group’s first CLO, is a $600 million investment pool that will principally invest in senior secured loans issued by the highest quality companies in the leveraged loan market across a wide variety of industries.
  • Dec 02, 2002

    Bear Stearns Merchant Banking Announces Purchase of Vitamin Shoppe

    NEW YORK, New York —December 2, 2002— Bear Stearns Merchant Banking announced today that it has acquired Vitamin Shoppe Industries Inc., a privately held retailer and direct marketer of vitamins, minerals, supplements and other nutritional products. Started in 1977 as a corner shop in New York City by its founder and current Chief Executive Officer Jeff Horowitz, the company has grown rapidly over the past five years and now operates 120 retail stores in 14 states and Washington DC, along with a nationally distributed catalog and an industry-leading Internet operation. Terms of the transaction were not disclosed.
  • Nov 27, 2002

    Mega Bloks Inc., Announces Closing of Its Secondary Offering

    MONTREAL, November 27, 2002 — Mega Bloks Inc. (TSX: MB) announced today the closing of the secondary offering of common shares by affiliates of The Blackstone Group, one of its principal shareholders. The offering was led by Merrill Lynch Canada Inc. in an underwriting syndicate that included CIBC World Markets Inc., BMO Nesbitt Burns Inc. and National Bank Financial Inc.
  • Nov 26, 2002

    Premcor Announces Agreement to Acquire Williams Memphis Refinery

    OLD GREENWICH, Connecticut, November 26, 2002 – Premcor Inc. (NYSE: PCO) today announced that it has executed a definitive agreement with The Williams Companies for the purchase of the Williams Memphis refinery and related supply and distribution assets located in and around Memphis, Tennessee. The purchase price for the assets is $315 million, plus the value of petroleum inventories at closing. At current petroleum prices, the inventory value would be approximately $150 million. The agreement also contains an earn-out provision that may result in an additional $75 million for Williams over a seven-year period depending on the level of industry refining margins during that period.
  • Nov 19, 2002

    Northrop Grumman to Sell TRW's Automotive Business to The Blackstone Group

    LOS ANGELES -- Nov. 19, 2002 -- Northrop Grumman Corporation (NYSE: NOC) announced today that it has signed a definitive agreement to sell the Automotive business ("TRW Automotive") of TRW Inc. (NYSE: TRW) to The Blackstone Group in a deal that values TRW Automotive at $4.725 billion.
  • Oct 30, 2002

    Nordic Capital Sells Nycomed to a Group of Investors Led by CSFB Private Equity

    Nordic Capital has entered into a definitive agreement to sell Nycomed, the European market-driven pharmaceutical company, to a company owned by CSFB Private Equity, Blackstone Capital Partners and NIB Capital Private Equity NV. The transaction price has not been disclosed.
  • Oct 17, 2002

    Hamilton E. James to Join The Blackstone Group as Vice Chairman

    NEW YORK, October 17 – The Blackstone Group announced today that Hamilton E. James will join Blackstone as Vice Chairman effective November 1st, 2002. Mr. “Tony” James is joining Blackstone from Credit Suisse First Boston, where he was Chairman of Global Investment Banking and Private Equity. Prior to CSFB, Mr. James spent 25 years at Donaldson, Lufkin & Jenrette where he built DLJ’s investment banking arm into the largest and most profitable division at DLJ, as well as building DLJ’s private equity business into one of the world’s largest and most successful managers of third party private capital.
  • Jul 16, 2002

    Blackstone Raises Record Private Equity Fund of $6.45 bilion

    New York, July 16, 2002: The Blackstone Group today announced that it has received capital commitments for its latest private equity fund, Blackstone Capital Partners IV, of approximately $6.45 billion, making it the largest private equity fund ever raised. The initial target for BCP IV, which commenced its fund-raising process in the spring of 2001, was $5 billion. BCP III, Blackstone’s current private equity fund, raised total capital commitments of approximately $4 billion in 1997.
  • Jul 03, 2002

    Flag Telecom Files Plan of Reorganization

    The Company believes that it can emerge from Chapter 11 and related proceedings by September 2002 with its global network intact, with a major reduction of its financial indebtedness and a reduced operating expense level that will still enable FLAG Telecom to service its customers. This timing assumes that the requisite procedural steps can be accomplished on the schedule anticipated by FLAG Telecom, and that the Plan receives the requisite support from creditor groups and is confirmed by the Court, and that the Schemes of Arrangement in the parallel proceedings in Bermuda can be concluded on a similar time schedule.
  • May 30, 2002

    Wellington Underwriting plc - Formation of Wellington Re and Potential Capital Raising

    Commenting on behalf of Wellington, Julian Avery, Chief Executive of Wellington, said: “This new London-based company takes forward our strategy to exploit fully the dramatically improved rating environment. The strong support that we have received is further recognition of the quality of our underwriting track record and our prospects in this highly attractive market. This latest initiative will allow Wellington to build further on its leading position in the Lloyd’s market and enhance returns to our shareholders and third party capital providers.”
  • May 14, 2002

    Blackstone Acquires Majority Interest in The Columbia House Company

    Business Wire (Copyright (c) 2002, Business Wire) NEW YORK–(BUSINESS WIRE)–June 25, 2002--The Columbia House Company, the world's largest direct marketer of music, videos and DVD home entertainment products, closed the previously announced acquisition by Blackstone Capital Partners III LP, an affiliate of The Blackstone Group, the New York-based private investment bank, of a majority interest in the Company from AOL Time Warner Inc.'s Warner Music Group and Sony Corporation's Sony Music Entertainment Inc.
  • May 09, 2002

    Mega Bloks Inc. Announces Closing of Its Initial Public Offering

    MONTREAL, May 9, 2002 — Mega Bloks Inc. (“Mega Bloks”), announced today that it has closed its previously announced initial public offering and that its common shares have begun trading on the Toronto Stock Exchange under the symbol MB. Merrill Lynch Canada Inc. acted as lead underwriter in a syndicate that included CIBC World Markets Inc., National Bank Financial Inc. and BMO Nesbitt Burns Inc.
  • Apr 19, 2002

    Premcor Inc. Sets Price Range for Its Initial Public Offering

    OLD GREENWICH, Connecticut, April 18, 2002 – Premcor Inc. announced today that it has filed with the Securities and Exchange Commission an amendment to its previously filed registration statement relating to the initial public offering of 15,000,000 shares of its common stock, setting the estimated price range at $22 to $24 per share. All of the shares are primary shares being offered by the company. When issued, the common stock is expected to trade on the New York Stock Exchange under the symbol “PCO”.
  • Apr 03, 2002

    Geraldine McKenna Appointed Executive Vice-President of The Savoy Group

    The Savoy Group, the leading luxury hotels group owned by Blackstone Group, has appointed Geraldine McKenna as Executive Vice-President of the Group. As Executive Vice-President, Geraldine is responsible for managing all revenue streams and assisting the Group’s owners with strategic development issues. She reports directly to the Board of Directors.
  • Feb 05, 2002

    Thomas O'Malley Named as Chairman and Chief Executive Officer of Premcor, Inc.

    ST. LOUIS, February 5, 2002 - Premcor Inc. announced today that Thomas D. O’Malley has been appointed as its new chairman, chief executive officer, and president. Mr. O’Malley had been the chairman and chief executive officer of Tosco Corporation for many years and served as a vice chairman and a director of Phillips Petroleum from the consummation of that company’s acquisition of Tosco in September 2001 until his recent resignation from those positions to join Premcor.
  • Jan 25, 2002

    Allied Waste Names New Member to Board of Directors

    Scottsdale, AZ – January 25, 2002 – Allied Waste Industries, Inc. (NYSE: AW) today announced the election of J. Tomilson Hill to its Board of Directors. Mr. Hill is replacing David S. Blitzer, who has served on the Allied Waste Board of Directors since July 1999. Mr. Blitzer is relocating to the United Kingdom to run the European private equity team for The Blackstone Group, LP.
  • Jan 24, 2002

    Blackstone Real Estate Partners International Closes Over Target

    New York: January 24, 2002: The Blackstone Group today announced the final closing of its Blackstone Real Estate Partners International fund (BREP International), the fourth real estate fund raised by the New York-based private investment bank. Commitments total €800 million, substantially exceeding the fund’s initial target of €600 million, and came from a wide range of corporate and public pension funds, financial institutions and high net worth individuals from both Europe and the United States.
  • Jan 16, 2002

    Blackstone Enters Collateralized Loan Business

    New York: Wednesday, January 16th, 2002 – The Blackstone Group today announced its formal entry into the Collateralized Loan Obligation (CLO) management business following the hiring of Dean T. Criares from CIBC World Markets, as Managing Director. This new structured finance investment management group under Dean Criares will initially manage a series of CLO programs that invest primarily in senior secured bank loans. The group will work closely with Blackstone’s Mezzanine Finance Group under Howard Gellis, Senior Managing Director.
  • Jan 07, 2002

    Utilicorp Completes Aquila Short-Form Merger

    KANSAS CITY, Mo. – (BUSINESS WIRE) – Jan. 7, 2002 – UtiliCorp United (NYSE:UCU - news) today completed the previously announced short-form merger of its Aquila, Inc. subsidiary (NYSE:ILA - news) with a UtiliCorp subsidiary.