Blackstone Chief Executive Objects to Having to Provide Personal Financial Information to the Fed
According to the Wall St Journal report Stephen Schwarzman, one of Wall Street's most prominent deal makers, is going out of his way to keep the details of his personal fortune a closely held secret.
Blackstone Group LP is changing the structure of its investment in a Florida bank after Mr. Schwarzman, founder and chief executive of the private-equity firm, balked at providing information about his personal finances to the Federal Reserve, according to people familiar with the situation.
Blackstone is converting part of its 14.1% stake in BankUnited Inc. to nonvoting preferred stock, these people said. The deal will shrink its voting stake to less than ..
Find out more at http://online.wsj.com/article/SB10001424052970203750404577171302192177174.html?mod=WSJ_article_forsub
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