Private equity giant The Blackstone Group tomorrow is holding its first-ever “investor day,” more than three years after it went public on the New York Stock Exchange. Unfortunately, most Blackstone shareholders will have to watch via webcast.
Turns out the firm only had enough space to invite its 200 largest investors. Not quite sure why they couldn’t have just rented out a hotel ballroom, but maybe UN General Assembly got the better of them. [Update: Seems they did rent a ballroom, at the Waldorf Astoria no less… almost certain that room can hold more than 200]
The program begins at 8 a.m. with a welcome from CEO Steve Schwarzman, followed by several sector-specific sessions (including a working lunch on the GSO credit platform). It wraps up with an afternoon Q&A that features both Schwarzman and firm president Tony James. No official mention of cocktails, but maybe that’s so virtual viewers don’t get jealous.
I don’t happen to be one of Blackstone’s largest shareholders, so didn’t get an invite. I’m actually not an investor at all, but did register for the webcast. Hopefully that worked. If not, perhaps I’ll splurge and buy a share. After all, it’s only trading at $11.20 …