Blackstone fees boost bank profits

For the second year running Blackstone was the biggest single generator of financial sponsor-driven revenue for investment banks, paying $646 million in fees last year.

The Blackstone Group last year paid the largest amount of fees to investment banks for the second year running, despite the fact that the firm paid 8 percent less than it did in 2006, according to data recently released by Dealogic.

Blackstone in 2007 paid fees totaling $646 million (€440 million), while Goldman Sachs Capital Partners was the second-largest fee payer at $617 million.

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