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Soy's picture

Next to go?

by Soy (Monkey, 49 Banana Points Points) on 9/15/08 at 4:41pm

I've accepted a job offer at Blackstone. I know blackstone isn't BB, but do you think it's in trouble, seeing that LEH's collapse will further tighten credit, and LBOs are a big part of what Blackstone does? If deal flow is restricted by credit market problems and the possibility of another bank collapse, do you think my bonus would be hurt?

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monkey147's picture

Bonuses -- I don't think

by monkey147 (Monkey, 44 Banana Points Points) on 9/15/08 at 4:57pm

Bonuses -- I don't think anyone's bonus is going to be great this year. If you are not in PE and are wondering how bonus spillover will be affected, that would depend on the bank's compensation system

Bank collapse -- I think blackstone would only be an issue if it issued problematic assets, which I'm not sure it did.

Blackstone PE -- The LBO market will certainly be hit for a long time. I think small to mid-sized deals will still get done, but obviously no big deals -- no change from before.

Blackstone industry M&A groups -- then this would be a good time for the bank as lehman's bankers just got wiped out.

Blackstone restructuring -- well poised to take advantage of any potential recession

Soy's picture

thanks i think i'll be

by Soy (Monkey, 49 Banana Points Points) on 9/15/08 at 5:00pm

thanks i think i'll be spending alot of time here up until my contract begins.

Devils Advocate's picture

Be happy you even have a

by Devils Advocate (Orangutan, 339 Banana Points Points) on 9/15/08 at 5:12pm

Be happy you even have a job...