Blackstone Group L.P.

Blackstone Group L.P.

Blackstone Group L.P.
Last update 2021-05-20 374 Stocks (204 new)
Value $49.26 Bil Turnover 29 %
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Blackstone Group L.P. Profile

The Blackstone Group can trace its history back to 1985 when the original company was founded by Stephen A. Schwarzman and Peter G. Peterson. In 1987, the company would expand into the alternatives market through Blackstone Capital Partners I, the company’s first private equity fund. The Blackstone Group would continue to expand through spinning out subsidiary companies, founding the Blackstone Alternative Asset management, providing custom hedge fund solutions, in 1990 and Blackstone Real Estate, now one of the world’s largest real estate investment companies, in 1992. By 1993, Blackstone would become the largest independent alternative asset manager. At the turn of the millennia, the company would open its London offices, beginning to expand its physical global presence, and open further offices in Paris and Atlanta in 2004. Blackstone would then establish the Park Hill Group, its fund placement business, and open offices in Mumbai and Tokyo before having its IPO on the New York Stock Exchange in 2007. The company would continue expansions through mergers such as with GSO Capital Partners and creating spin off companies as it grew such as the Blackstone Charitable Foundation. In 2013, Blackstone would acquire Strategic Partners and open its Singapore office as his headquarters for business in Asia, raising its S&P rating to A+. The original founder of the Blackstone Group Stephen A. Schwarzman is still with the company and acts as the chairman and CEO. The company now has a total of $311 assets under management, generating an annual revenue of approximately $3.7 billion. The company employs over 1600 people located in its branch offices around the world. Blackstone Group’s mutual funds include its Long Short Credit Income Fund, Real Estate Income Fund, Alternative Investment Fund, Diversified Multi Strategy Fund, and Senior Floating Rate Term Fund. The company launched its first ETF, a senior loan exchange traded fund, in 2013.

Blackstone Group L.P. Investing Philosophy

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