Blackstone Group LP has agreed to pay $600 million for 20 percent of China's state-owned China National BlueStar (Group) Corp., the companies said Monday. The New York private-equity firm will buy the stake from state-owned China National Chemical Corp., the companies said in a joint statement.

By Joe Bel Bruno Associated Press NEW YORK -- Stephen Schwarzman, the co-founder and chief executive of private equity powerhouse Blackstone Group LP, on Thursday became Wall Street's latest $10 billion man.

Blackstone Group LP on Thursday raised $4.13 billion in the biggest U.S. initial public offering in five years, a sign of the growing power of private equity firms in global finance.

By Emma Trincal, Senior Financial Correspondent NEW YORK (HedgeWorld.com) - Blackstone Group LP is not going to let a proposed tax law derail its initial public offering.

Blackstone Group LP, one of the world's biggest private equity firms, on Thursday said it seeks to raise up to $4 billion in a highly anticipated initial public offering.