The AFL-CIO has asked the Securities and Exchange Commission to delay approval of a proposed $4 billion public stock offering from the private equity firm, the Blackstone Group, and suggested that the firm be regulated as an investment company. The SEC is reviewing the plan by Blackstone, one of the world?s biggest private equity firms. The labor federation, which is a major shareholder in public companies, sent a letter Tuesday urging the S.E.C. to have Blackstone regulated under the Investment Company Act of 1940, which would subject the firm to limits on the amount of debt it could assume, as well as additional governance requirements.
See "A.F.L.-C.I.O. Asks for Delay of Blackstone Group?s Stock Offering", Associated Press, The New York Times, May 16, 2007