Blackstone Announces Tax-Free Advisory Business Spinoff

The video discusses Blackstone's plan to spin off its advisory business into an independent company, with Steve Schwarzman as the largest shareholder. Paul Taubman will lead the new firm. Barry Ritholtz provides insights on the strategic move, highlighting compliance and revenue considerations. The video also addresses conflicts of interest within Blackstone and compares the new entity's potential market value to similar firms.

How does the revenue model of Blackstone's advisory business differ from traditional asset management?

What are the implications of having two separate companies for Blackstone's operations?