Buyout titan celebrates in style

Stephen Schwarzman, co-founder of the Blackstone Group, has a lot to celebrate these days. For one thing, he's on the verge of winning a bidding war that would reign as the largest buyout ever. Vornado could always make another offer, however. On top of that, he's going to turn 60 next month, and a huge party is planned. More than 1,500 have been invited and the list read like a who's who of Wall Street: CEOs of Goldman Sachs and Bear Stearns as well as a slew of society figures. Ed Kennedy and Condi Rice will not be able to make it, however. Many think Schwarzman is in the process of eclipsing Henry Kravis as the top buyout maven on Wall Street. This is starting to look like a coronation, but perhaps that's the idea.

For more:
- here's a New York Times article