Dubious distinction for Blackstone

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As more alternative investment firms manage to list themselves publicly, they are opening themselves up to an additional layer of criticism, the type usually reserved for public companies. The Blackstone Group has found itself on top of the Corporate Library's annual list of companies paying its top guy the most.

Blackstone's Steven Schwarzman's 2008 pay came in at a whopping $702,440,573. But Business Week notes that it something of a fluke. Schwarzman received a redistribution of his initial investment in the company, which the Corporate Library says cannot really be counted as compensation. Still, companies like Blackstone--and KKR, which will soon list--will have to have their PR folks attuned to these sorts of lists. 

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