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Blackstone Makes Trading Debut

NEW YORK (AP) – Blackstone Group LP, the investment firm known for making billion-dollar bets to buy huge companies and take them private, surged around 30 percent Friday in its first few minutes of trading.

The New York-based buyout shop, which controls such names as Universal Studios Orlando and Freescale Semiconductor, bounded higher in morning trading after the stock was priced at $31. Shares last traded up $9, or 29 percent, at $40.