07:27 AM EDT, 05/22/2024 (MT Newswires) -- Blackstone (BX) plans to grant equity to most employees at its large US buyouts, The Wall Street Journal reported Wednesday, citing the company's executives.

The company is expected to announce this initiative at an investor conference this week and launch it by giving ownership to approximately 18,000 employees of Copeland, which Blackstone acquired in a $14 billion deal in 2023, the report said.

Copeland employees will receive equity if they remain until Blackstone sells or takes the company public, with payouts tied to investment return, according to the report.

The program will apply to all new deals where Blackstone's private equity arm gains control of a company, the report said.

Blackstone did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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