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Posted On: 07/19/2025 1:08:01 PM
Post# of 8579
BIEL’s model is especially elegant because it allows partners to opt in simply by acquiring shares, avoiding the friction of traditional joint ventures or M&A. The following examples show that open-market equity acquisition, strategic shareholding, and performance-linked valuation are powerful tools for aligning private execution with public growth.
The Blackstone Group (BX)
What they did: Blackstone went public in 2007, allowing institutional partners and investors to gain exposure to its private equity performance through open-market share acquisition.
Why it matters: This IPO created a mechanism for partners to benefit from Blackstone’s deal flow and asset management success—without needing to be part of the firm’s internal structure.
Apollo Global Management (APO)
What they did: Apollo launched a publicly traded Business Development Company (BDC), Apollo Investment Corporation (AINV), giving outside investors access to its private equity portfolio.
Why it matters: Strategic partners and institutional investors could accumulate shares and participate in Apollo’s growth without direct involvement in fund management.
The Blackstone Group (BX)
What they did: Blackstone went public in 2007, allowing institutional partners and investors to gain exposure to its private equity performance through open-market share acquisition.
Why it matters: This IPO created a mechanism for partners to benefit from Blackstone’s deal flow and asset management success—without needing to be part of the firm’s internal structure.
Apollo Global Management (APO)
What they did: Apollo launched a publicly traded Business Development Company (BDC), Apollo Investment Corporation (AINV), giving outside investors access to its private equity portfolio.
Why it matters: Strategic partners and institutional investors could accumulate shares and participate in Apollo’s growth without direct involvement in fund management.
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