SEC Filing Summary: Blackstone Group L.P. (13F-HR)
Business Context and Reporting Period
This Form 13F-HR is a quarterly holdings report filed by Blackstone Group L.P. for the period ended June 30, 2015. The report was signed by John G. Finley on August 14, 2015. It discloses equity securities held by the institutional investment manager and includes holdings for one other included manager, GSO Capital Partners LP (File Number 28-12332).
Key Financial Metrics
As a Form 13F filing, this document reports portfolio holdings rather than the operating financial performance (revenue, profit, cash flow) of Blackstone Group L.P. itself. Key metrics disclosed include:
- Total Portfolio Value: $34,953,459,000 (reported in thousands).
- Total Number of Holdings: 64 entries in the Information Table.
- Number of Other Included Managers: 1.
The filing text does not provide data on Blackstone's revenue, profit margins, debt levels, or liquidity positions.
Material Changes and Portfolio Composition
The filing details specific voting authority and ownership structures for several significant positions, noting that certain shares are held through affiliated funds or entities rather than directly under Blackstone Group L.P.'s investment discretion:
- Freescale Semiconductor Ltd: Blackstone-affiliated funds hold 48.02% of Class A limited partnership interests in Freescale LP, representing voting authority over 196,980,050 shares.
- Kosmos Energy Ltd: Includes 1,988,529 shares under the discretion of Blackstone Family GP L.L.C. (controlled by Stephen A. Schwarzman), with total voting authority over 96,552,512 shares.
- Orbitz Worldwide Inc: Shares are under the discretion of Blackstone LR Associates (Cayman) V Ltd., including 144,873 shares held by Blackstone Management Partners L.L.C.
- Michaels Cos Inc: Includes 1,640,320 shares under the discretion of Blackstone Family GP L.L.C.
- Hudson Pacific Properties Inc: Includes 80,675 shares under the discretion of Blackstone Family GP L.L.C.
- Zimmer Biomet Holdings Inc: Held by LVB Acquisition Holding, LLC, where Blackstone-affiliated funds hold 24.4% of membership units.
Guidance, Risks, and Contingencies
This filing type does not contain management guidance, forward-looking outlooks, or risk factor disclosures regarding the company's operations. The primary disclosure relates to the separation of investment discretion for specific holdings, indicating that a portion of the reported shares are managed by related entities (e.g., Blackstone Family GP L.L.C.) controlled by Stephen A. Schwarzman.
Key Facts for Investor Verification
- Verify the distinction between shares held directly by Blackstone Group L.P. versus those held by affiliated entities like Blackstone Family GP L.L.C. or specific acquisition vehicles (e.g., LVB Acquisition Holding, LLC).
- Note that the reported portfolio value of approximately $35 billion represents the aggregate value of the 64 disclosed equity positions, not the total assets under management of the firm.
- Confirm the specific voting authority percentages for complex holdings, such as the 48.02% interest in Freescale LP and the 24.4% interest in LVB Acquisition Holding, LLC.
- Recognize that this document does not reflect Blackstone's own financial health (revenue, debt, cash flow) but rather its investment portfolio composition.