Blackstone Going Public—Its Own Way

The private equity firm plans to raise $4 billion in its initial public offering, but vows not to change its management approach

The Blackstone Group made it official late on Mar. 21, filing with the Securities & Exchange Commission to raise $4 billion in the most highly anticipated initial public offering since Google (GOOG) went public in August, 2004. But just because Blackstone is looking to tap the public markets, that doesn't mean this once highly secretive private equity behemoth is completely changing its stripes.

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