Robert Krakoff and Blackstone to Pursue Opportunities in Business to Business Communications

New York, NY, February 8, 2005 – Robert Krakoff, former Chairman and CEO of Advanstar, Inc. and former Vice Chairman of Reed Elsevier Inc., and The Blackstone Group announced today that they have entered into a formal collaboration to pursue investment opportunities in the business-to-business communications and media industry. The relationship between Krakoff, through his Blantyre Partners firm, and Blackstone combines Krakoff’s outstanding expertise in building and operating business-to-business media platforms with Blackstone’s successful track record as a leading media and communications investor. The capital for investments will be provided by Blackstone Capital Partners IV, a $6.5 billion fund and the largest institutional private equity fund ever raised, and Blackstone Communications Partners I, a $2.0 billion fund focused on investments in the media and communications industries.

Krakoff brings more than 30 years of experience in business-to-business communications and media. From 1996 through 2003 Krakoff was Chairman and Chief Executive Officer of Advanstar, Inc., and continued as Chairman through July 2004. Advanstar is one of the world’s leading business-to-business media companies. Krakoff built Advanstar through organic growth and acquisitions to form a company that publishes 97 business magazines and professional journals; as well as produces and manages 94 expositions and conferences throughout the world. Prior to Advanstar, Krakoff had a 23 year career at Reed Elsevier plc, a major international publisher and information provider. At the time of his retirement he was Vice Chairman of Reed Elsevier Inc., a director of Reed Elsevier plc, and Chairman and CEO of Cahners Publishing Company. During his tenure with Reed, he also held the position of Chief Executive of Reed Exhibition Companies and Reed Reference Publishing.

“Bob Krakoff is an extraordinarily talented and successful media executive who has long been an industry leader in the business-to-business communications sector,” said Mark Gallogly, Senior Managing Director at Blackstone and Head of Blackstone’s Private Equity Group. “Bob brings to us a unique combination of operating expertise, financial acumen and deep relationships in the business-to-business communications area. We believe there are attractive opportunities to create value in this industry and look forward to working closely with an executive who has such a distinguished track record.” “Blackstone is the leading private equity firm in the world and has a long history of investing successfully in the media and telecommunications markets,” said Krakoff. “The business-to-business communications industry offers a large variety of acquisition opportunities to build and grow a major business-to-business company. Blackstone, with its unique skills and substantial resources and relationships, is the ideal partner for this project.”


Formed in 2004, Blantyre Partners is a strategic management and investment company. Controlled by Robert Krakoff, Blantyre will identify and evaluate investments and then manage and support companies in the business-to-business communications area.

Mr. Krakoff is a past Chairman and a past Director of the Association of American Business Media (ABM), and the 2002 recipient of the ABM’s McAllister Top Management Fellowship award for career leadership in business-to-business media. He also is a Trustee of the Beth Israel Deaconess Hospital in Boston.

He is a member of the Board of Freedom Communications, Inc., of Irvine, CA, and chairman of its Audit Committee; a prior Director of three mutual funds of the Aquila Management Corporation (Capital Cash Management Trust, Narragansett Insured Tax Free Income Fund, and Trinity Liquid Assets Trust); and he was a member of the Board of Governors of the Harvard Business School Association of Boston.

Mr. Krakoff graduated from Pennsylvania State University with a Bachelor of Science degree in Business Administration. He earned an MBA from the Harvard Graduate School of Business Administration.


The Blackstone Group, a leading global investment and advisory firm, was founded in 1985. The firm has raised in excess of $32 billion for alternative asset investing since its formation, including over $14 billion for private equity investing. The capital for investments will be provided by Blackstone Communications Partners I L.P., which represents $2.0 billion in committed capital and is among the world’s largest funds dedicated to media and communications investing and Blackstone Capital Partners IV L.P., which represents $6.5 billion in committed capital and is the largest fund of its kind ever raised. In addition to Private Equity Investing, Blackstone’s core businesses include Private Real Estate Investing, Corporate Debt Investing, Marketable Alternative Asset Management, Corporate Advisory and Restructuring and Reorganization Advisory services.