Blackstone joins Facebook

Now you can “like” The Blackstone Group – thus encouraging your friends and friends of friends to do the same. The private equity firm has created an official Facebook profile as the firm continues to enhance its social media use.

Blackstone's “wall”, or main page in Facebook jargon, features content including video. It will consist of relevant articles and thought leadership pieces to Q&A sessions with various Blackstone employees, according to a statement. Visitors to the firm’s Facebook wall will also be able to explore Blackstone’s landmark achievements beginning with its founding in 1985.

The digital strategy move comes on the heels of Blackstone unveiling it had added Japanese and Chinese language options to its website.  
 

Blackstone is somewhat of an industry trailblazers in its use of social media as only 7 percent of private equity firms regularly use it to build their brands, according to a November  2011 survey by PR firm BackBay Communications.

This is possibly down to fears of falling foul of private equity regulators, such as Securities and Exchange Commission (SEC).

Earlier this year the SEC put out a risk alert warning registered private equity firms that social media policies should be regularly reviewed to ensure compliance with record keeping requirements, anti-fraud provisions and other federal securities laws.

Delegates at the PEI Private Fund Compliance Forum in New York confirmed this fear telling PE Manager that although social media is a good way to create brand awareness and network with industry peers, it is considered a compliance risk.

PE Manager spoke to private equity firms about the use of social media in creating brand awareness earlier this year.