TPG - Blackstone To Grant Equity To Rank-And-File Employees At US Buyouts: Report | Benzinga
Blackstone Inc. (NYSE:BX) is reportedly initiating a plan to grant equity to the majority of employees at its U.S. buyout companies.
The decision will be announced at an investor conference this week and will apply to all new acquisitions where Blackstone's private-equity division takes control, reported The Wall Street Journal.
Blackstone, whose private-equity portfolio encompasses over 400,000 employees, aims to broaden ownership beyond just management ranks, the report added.
The program will begin with the 18,000 employees of Copeland, a climate-technologies unit purchased from Emerson Electric Co (NYSE:EMR) for $14 billion last year.
Employees must remain with their company until Blackstone either sells it or takes it public to qualify ...