Is Recent Blackstone Spinoff PJT Partners A Bargain? WSJ Says Maybe

We failed to note it at the time, but on October 1, Blackstone(BX) completed the spinoff of several advisory businesses which combined with PJT Capital to form PJT Partners(PJT).  Blackstone unit holders received one PJT share for every forty units of Blackstone held. The spinoff was structured to be tax free to unit holders. PJT Partners begins operations… Read More »