Private Equity

Blackstone ends partnership structure to become corporation

Private equity firm hopes the move will make its stock more attractive

Blackstone Group said it would abandon its partnership structure and become a corporation, a move some publicly-traded peers have taken in an effort to expand the ownership of their stocks.

For private equity firms, a conversion to a so-called C corporation became a realistic option after Congress passed the new tax law in late 2017, which lowered the highest corporate rate to 21% from 35%.

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