Setting the value of Wall St. history

Article Abstract:

Goldman, Sachs and Co., Wall Street's last large private partnership, may go public in Fall 1998 by offering a 20% stake in the securities firm. Estimates of Goldman Sachs' worth range from $15 billion to $35 billion, depending on what multiple of the firm's equity is used. The firm reported its book value as $6.3 billion as of the quarter ended February 28, 1998. Morgan Stanley and Merrill Lynch both trade at 3.5 to 4 times book value, and both earned considerably less than Goldman Sachs' 48.1% return on common equity in 1997.

Comment:

May go public in Fall 1998 by offering a 20% stake

Asset sales & divestitures, Securities Dealers, Organizational history, Goldman, Sachs and Co.

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A.I.G. will put $1.35 billion into Blackstone

Article Abstract:

American International Group Inc. (AIG) announced that it would make a $1.35 billion investment in the Blackstone Group. The announcement increased the possibility that the two firms will engage in greater cooperation with each other in the future. Blackstone is a private merchant bank based in New York. Some $150 million of the investment will be used by AIG to purchase a 7% limited partnership in Blackstone.

Comment:

AIG announced that it would make a $1.35 billion investment in the Blackstone Group

Investment Banking, Insurance, Insurance Carriers and Related Activities, Receipt of funds, Use of Funds, Investment banks, American International Group Inc., The Blackstone Group

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