(Reuters) - The union says that the unique structure chosen by Blackstone's senior executives to raise funds from stock markets while keeping a tight grip on the running of its business is an attempt "to evade the coverage" of the Investment Company Act of 1940.
In its March prospectus, Blackstone said its listed entity was a partnership exempt from the governance requirements of investment companies such as having a fiduciary duty to stock market investors and keeping a majority of independent directors on the board.
Read more at Reuters.com Mergers News
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