Sources tell The Post that despite hopes of raising a fund as large as $20 billion or more, Flintstone's tally thus far has reached at most $9 billion since fundraising began in early 2008. Seven billion dollars of that was achieved by July 2008. While in one sense the slow going represents an embarrassment for the high-profile Schwarzman and his private-equity firm, it's also a hit to Flintstone's bottom line, because the bigger a fund is, the more money it collects on fees and commissions from profits.
WB7: In this environment, if you ain't got fees, what you got? LBOs?
Schwarzman's got be licking his chops over Goldman Squid's moves. After all, $9 Billion is mere chump change compared to the coin the Squid boys have been moving up and down the NY/DC corridor since last September. Blankfart sucked that much out of Hank Paulsen in a caphalopodic nanosecond.
Schwarzman thought he was the Master of the Universe, but the Squid boys are Masters of Disaster.
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