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Thursday, November 21, 2013

Blackstone taps Nielsen CEO Calhoun to help run its companies, (NYSE: BX), (NASDAQ: CG), (NYSE: NLSN)

Blackstone Group LP said Thursday it had hired David Calhoun, chief executive of television ratings company Nielsen Holdings NV, to work with the bosses of the private equity firm's companies in order to deliver more value. Calhoun, who joined Nielsen in 2006 shortly after it was acquired by a Blackstone-backed consortium, will become head of Blackstone's private equity portfolio operations and sit on the firm's management and executive committees. He will be executive chairman at Nielsen beginning in January."He is one of the most talented CEOs we have ever worked with. We are excited to have him help guide our portfolio company operations as well as the strategic development of Blackstone itself," Blackstone co-founder and chief executive, Stephen Schwarzman, said in a statement.Nielsen's operating income jumped from $800 million at the time of the leveraged takeover to $1.7 billion in 2012 under Calhoun's leadership, Blackstone said.KKR & Co LP, which invested in Nielsen alongside Blackstone, disclosed in its third-quarter earnings that it has so far made 2.5 times its money on that investment as of the end of September. The private equity consortium, which includes Carlyle Group LP and Thomas H. Lee Partners LP, has been gradually selling shares in Nielsen since taking it public in 2011.

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 1.45% or $0.38/share to $26.67. In the past year, the shares have traded as low as $14.32 and as high as $28.73. On average, 4645900 shares of BX exchange hands on a given day and today's volume is recorded at 539913.

Shares of CG traded higher by 0.93% or $0.3/share to $32.46. In the past year, the shares have traded as low as $23.85 and as high as $37.89. On average, 469738 shares of CG exchange hands on a given day and today's volume is recorded at 27556.

Nielsen Holdings NV is a Netherlands-based company engaged in information and measurement services. Shares of NLSN fell by 0.94% or $-0.3825/share to $40.11. In the past year, the shares have traded as low as $27.57 and as high as $40.92. On average, 1773660 shares of NLSN exchange hands on a given day and today's volume is recorded at 186706.



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