It’s understandable if you failed to notice one meaty if unglamorous trend on Wall Street: Private equity’s love affair with franchising.
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Amid a strong earnings call, Blackstone announced that it is planning to take some of its portfolio companies public.
Blackstone partnered with fellow buyout expert Vista Equity Partners to take workplace software company Smartsheet private for $8.4 billion.
The massive private-equity investments are causing concerns about its impact on the wealth management industry.
New filings with the Securities and Exchange Commission are requesting permission to launch ETFs that hold both public and private assets.
High-profile lawsuits and SEC investigations over cash sweeps have taken the industry by storm.