Blackstone: A Biography
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Summary
Both professional and readable, the book draws on extensive primary sources to reveal Blackstone's core philosophy of "friendly acquisitions" and long-term value investing, and interweaves industry background such as Drexel Burnham Lambert and the KKR takeover battles to help readers understand the logic of private equity operations. A translator's preface specially added for the Chinese market enhances its local reference value.
The book comprises 26 chapters arranged chronologically: the first half covers Blackstone's beginnings and early successes and failures in the 1980s; the second half focuses on its diversification, real estate investment, and 2007 IPO.
Editor's review
Who it's for
A good fit for
- Readers interested in private equity and M&A investment who want a systematic understanding of how the industry operates
- Finance and investment professionals who need corporate history cases to understand capital operations and long-term value investing
- Business school students and researchers who can use the book as reference reading on corporate history and industry evolution
- General business readers interested in entrepreneurial and organizational growth stories
Not a good fit for
- Readers seeking specific investment techniques or short-term trading strategies
- Readers with little interest in financial history or M&A cases who prefer pure theory or literary reading
- Readers expecting intimate, personal memoir-style recollections from the founder
Reading tips
- Read the translator's preface first to grasp the reference perspective for the Chinese market, then move into the main chronological narrative
- Read in chapter order, sorting out Blackstone's investment strategies and key cases at each stage as you go
- Pause on background passages about Drexel Burnham Lambert and the KKR takeover battles, understanding them within the industry context
- After finishing, review Blackstone's core philosophy and key successes and failures on a single page to form your own framework
About the publisher
Beijing United Publishing Co., Ltd. is a publisher known for its literature and history titles, with 2,065 books in the collection. Its publishing covers foreign literature, contemporary Chinese prose and essays, history, folk literature, and cultural books. Its list ranges from Sima Qian's complete edition of the Records of the Grand Historian to foreign classics such as The Book of Disquiet, All Quiet on the Western Front, Snow Country, The Stranger, and Jean-Christophe, as well as modern Chinese works including Teahouse and Dawn Blossoms Plucked at Dusk. Its authors and translators include Yasunari Kawabata, Fernando Pessoa, Erich Maria Remarque, Jin Xinyi, Zhou Miao, and Chen Chao. Public information is limited, but its catalogue reflects a balance between Chinese and foreign literary classics and historical and cultural works.
Contents
- 版权信息
- 推荐序一 黑石，全球PE行业的一个象征
- 推荐序二 时代正在呼唤中国的“黑石”
- 中文版序 私募股权，资本市场瞩目的新焦点
- 第一部分 黑石崛起，杠杆收购的黄金时代
- 第1章 一场自我加冕的盛典
- 第2章 草根银行家嗅到资本新大陆
- 第3章 “垃圾债券”，重塑并购游戏规则
- 第4章 黑石诞生，末班车上的幸存者
- 第5章 用2%本金撬动25倍的回报
- 第6章 1次失误=永久出局的残酷法则
- 第7章 当“精神导师”沦为权力局外人
- 第二部分 黑石炼成，危机中的秃鹰策略
- 第8章 并购寒冬，四连败背后的生存法则
- 第9章 对手不止一个，活下来就是赢家
- 第10章 华尔街“最持久伙伴关系”的终结
- 第11章 地产豪赌，抄底银行不良资产的暴利逻辑
- 第12章 第三基金，40亿弹药库背后的王者野心
- 第13章 当PE沦为互联网时代的旁观者
- 第14章 德国败局，1.59亿学费买来的技术诅咒
- 第15章 秃鹰觉醒，次贷危机前夜的嗜血布局
- 第三部分 黑石称王，重构行业规则
- 第16章 权力交接，寻找下一个“苏世民”
- 第17章 塞拉尼斯神话，5倍回报背后的化工重组术
- 第18章 变现再投资，碾压KKR与阿波罗
- 第19章 上市之争，必须成为第一
- 第20章 证券化狂潮，债务创新催生新并购泡沫
- 第21章 387亿豪赌，来自办公物业的致命诱惑
- 第22章 IPO盛宴，46亿美元分账背后的资本逻辑
- 第四部分 黑石暗影，贪婪时代的代价
- 第23章 债务崩塌，次贷危机撕碎并购神话
- 第24章 至暗时刻，私募股权最血腥的去杠杆实验
- 第25章 是创造者，还是掠夺者
- 第26章 不被淘汰的唯一方式
- 附录一 黑石经典投资案例
- 附录二 主要人物一览
FAQ
Is this book better read as a practical investment guide or as corporate history?
Can readers without a finance background understand it?
How does the translator's preface help with reading?
Which stages of Blackstone does the book mainly cover?
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About the author
Public information about David Carey is limited; all that is known is that four of his works have been introduced to the Chinese book market. His writing focuses on finance and management. His representative works include The Blackstone Story, King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone, and King of Capital (Classic Edition), as well as the "Classic Series Translated under the Leadership of Ba Shusong" (six volumes). These works center on the development of the Blackstone Group and the workings of private equity capital, falling into the categories of financial reportage and business case writing, with both narrative and documentary features. They are often shelved under finance, social culture, and management. Because details such as birth and death dates, nationality, and educational background remain unconfirmed, no inferences are made here; readers may learn about the relevant institutions and industry context through his works.
John Morris is an author of books on finance and management. Public information about him is limited, and three of his works can currently be confirmed, all centered on the global private equity giant Blackstone Group: a biography of Blackstone, The King of Capital: The Rise of Blackstone, the World's Private Equity King, and The King of Capital (Classic Edition). These books focus on Blackstone's journey from its founding to becoming a benchmark in the private equity industry, covering topics such as leveraged buyouts, private equity operations, and corporate governance. In style, they combine narrative with business analysis, making complex capital operations clear and readable. His works are commonly classified under finance and management and are suitable for readers interested in private capital, corporate mergers and acquisitions, and financial history, offering an accessible and informative reference for understanding Blackstone and the development of the global private equity industry.
Ba Shusong is an author whose works have circulated widely in Chinese-language financial reading. Public information about him is limited, and his nationality, dates of birth and death, and educational background remain unconfirmed. The library contains thirty-two of his works, spanning finance, biography, and management. Representative titles include A Monetary History of the United States, 1867–1960 (revised edition), Security Analysis, Capital in the Twenty-First Century, The Lords of Finance: The Bankers Who Broke the World, Too Big to Fail (classic edition), Common Sense on Mutual Funds (10th anniversary edition), When the Music Stops, and The Man Who Knew: The Life and Times of Alan Greenspan. This list shows a sustained interest in monetary history, securities analysis, capital theory, financial crises, and the rise and fall of financial institutions. He both translates foreign classics and takes part in compiling biographies of financial figures, with an editorial style that emphasizes historical sources and institutional analysis, offering Chinese readers a systematic reference for understanding the modern financial system.
Publicly available information about Chen Jian is limited, and his nationality, birth and death dates, and educational background cannot be confirmed at present. Judging from the 12 works held in the collection, his writing and editorial work center mainly on finance, management, and biography, while also touching on foreign literature. Representative works include Security Analysis, Too Big to Fail (Classic Edition), The Biography of Greenspan, The Biography of Blackstone, The Alchemist, and The King of Capital: The Growth History of the Blackstone Group, the World's Private Equity King. He also compiled the eight-volume set Top Investors All Do This, and was involved in publishing the Sagan series volume The Lonely Pond. His finance-related works generally focus on financial history, investment institutions, and biographies of key figures, striking a balance between professional substance and readability, and are suitable for readers interested in capital markets and business figures.
