FYI: (The Linkster highly recommend the ownership of BX, that I held along with KKR and APO for a number of years before getting out of the market. BX has outstanding performance along with an excellent yield.)
Blackstone Group BX 7.49% LP said it would abandon its partnership structure and become a corporation, a move some publicly traded peers have taken in an effort to expand the ownership of their stocks.
For private-equity firms, a conversion to a so-called C corporation became a realistic option after Congress passed the new tax law in late 2017, which lowered the highest corporate rate to 21% from 35%.
The new law made it more palatable to make the switch, which the firms hope will make their stock more attractive to mutual funds and other institutional investors. Those investors typically don’t invest in publicly traded partnerships.
Regards,
Ted
https://www.wsj.com/articles/blackstone-to-become-corporation-swapping-from-partnership-structure-11555588261Returns:
YTD: 31.50%
1yr. 28.29%
3-yr. 15.72%
5-yr. 9.83%
10-yr. 20.18
Yield 6.00%
(Source M*)
