The Buyout Boom’s Last Big Deal (New York Times)
It’s time to celebrate the first anniversary of the last gasp of the buyout boom. On July 3, 2007, just as New York’s financial elite were packing up early and heading to their summer haunts in the Hamptons, Blackstone announced a $26 billion buyout of Hilton Hotels . The credit markets had already begun to fray at that point, and after Hilton, the parade of huge private equity deals came to a …
