Book: King of Capital


This post is by Brad Feld from Feld Thoughts


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One of my guilty pleasures is reading biographies about financiers and their companies. On Saturday, I gobbled down King of Capital, which is the story of Steve Schwarzman and Blackstone from inception through 2011.

While I’ve never met Schwarzman, I’ve had a handful of experiences with Blackstone, mostly with the Blackstone Foundation and the head of it, Amy Stursberg. The two most notable are the Blackstone Entrepreneurs Network Colorado and the Blackstone LaunchPad powered by Techstars. Both have been great and impactful organizations and Amy has been a delight to work with.

King of Capital was a really useful book to read on a number of levels. One thing it reminded me of was to read histories of contemporary organizations that were written in the past. While 2011 is only eight years ago, it’s a lifetime in the world of finance, private equity, venture capital, and business. And, the

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CalPERS CEO Marcie Frost Gives Contradictory, Nonsensical Justifications for Muscling the Board to Approve Private Equity Scheme in March


This post is by from naked capitalism


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For carrying on an undertaking of great advantage; but nobody to know what it is. Notorious fraudulent company business proposal from the South Sea bubble CalPERS’ efforts to launch its private equity scheme has been a hot mess. It’s not clear what problem the giant fund is trying to solve, save further reducing transparency, which […]

Reining in Leveraged Lending


This post is by from naked capitalism


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Yves here. This article pre-supposes that readers understand that most leveraged lending is taking place as a result of private equity, via two routes. First, private equity funds use a great deal of borrowed money when buying companies. One of the biggest sources is so-called leveraged loans, which are normally originally made by banks, but […]