Note that Sen. Charles Schumer was among the merrymakers. Once upon a time, that would have been a scandal.

MCM

August 18, 2011, 8:56 pm Private Equity
Birthdays Are Still Big in Buyout Land
By PETER LATTMAN

When the billionaire buyout titan Stephen A. Schwarzman gave himself a boom-era-defining 60th birthday party in 2007, the global economy was soaring.

Four years and one financial crisis later, the world looks very different. But not much has changed in the private equity world — at least when it comes to birthday parties.

Last Saturday night, the financier Leon D. Black celebrated his 60th with a blowout at his oceanfront estate in Southampton, on Long Island. After a buffet dinner featuring a seared foie gras station, some 200 guests took in a show by Elton John. The pop music legend, who closed with “Crocodile Rock,” was paid at least $1 million for the hour-and-a-half performance.

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