Blackstone scores premium on Pinnacle stake

摘要

Risk continues to figure prominently in capital markets executions. With year-end earnings out of the way, and ahead of first-quarter numbers, activity has picked up in recent weeks, with accelerated bookbuilds and block trades accounting for more than 40% of the US$47.2bn raised through follow-on stock sales so far this year. Few have been as advantageous as Blackstone Croup, which this past week crystallised gains on its holdings in pinnacle foods at a premium to market prices, solidifying gains that have seen it return four times the money invested on the 2007 buyout.