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Blackstone was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson and Stephen A. Schwarzman, who had previously worked together at Lehman Brothers. History. Founding and early history.
- Stephen Schwarzman's Early Life and Education
- The Start of Stephen Schwarzman's Career
- The Beginning of Blackstone Group
- Entering The Private Equity World
- Expanded Business Segments and IPO
- The Bottom Line
Schwarzman says, ‘‘I stopped [studying math] in the eleventh grade. Calculus, for me, was way out of reach. I am more in the add, subtract, divide and multiply category, which worked and still does for me.’’ With no interest in corporate finance, Schwarzman took social science-related courses like psychology and sociology during his time at Yale. W...
After graduating from Yale in 1969, Schwarzman managed to get a job with an institutional asset management firm called Donaldson, Lufkin & Jenrette (DLJ). At the time, the company had just been listed on the New York Stock Exchange. Now defunct, it was co-founded by Bill Donaldson who also founded the Yale School of Management. Schwarzman developed...
With a Harvard MBA under his belt in 1972, Schwarzman took on a job at the then-independent investment giant, Lehman Brothers. By the age of 31, he had become the Managing Director of Global Mergers and Acquisitions for Lehman. Following American Express Company’s (AXP) acquisition of Lehman Brothers in 1984, Schwarzman left the firm. He approached...
Schwarzman successfully raised $800 million in 1987 for Blackstone's first private equity fund, Blackstone Capital Partners I, L.P. Prudential Financial Inc. (PRU), and General Motors Company (GM) were two of the fund's largest investors. The money raised was used to purchase companies using a strategy called leveraged buyouts(LBOs). Private equity...
Since launching his firm's first private equity fund in 1988, Schwarzman has significantly expanded Blackstone's business segments. The company continues to provide mergers and acquisitions advice as well as private equity fund management. In addition, Blackstone manages several funds of hedge funds and real estate investment partnerships. In 2012,...
Stephen Schwarzman became a billionaire by managing money for other people. Dissatisfied by the level of transparency offered by the stock market, Schwarzman co-founded The Blackstone Group, a private equity firm, in the mid-1980s. Today, Blackstone is one of the world's largest alternative asset managers. The company collects fees for managing hun...
Stephen A. Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world’s largest alternative investment firms with over $1 trillion Assets Under Management (as of June 30, 2024). Mr. Schwarzman has been involved in all phases of Blackstone’s development since its founding in 1985.
In 1985, Schwarzman and his boss, Peter Peterson, started The Blackstone Group, which initially focused on mergers and acquisitions. [13] [14] Blackstone would branch into business acquisition, real estate, direct lending, alternative assets, and now has some $500 billion in assets under management. [15]
Mar 13, 2022 · Stephen A. Schwarzman is Chairman, CEO, and co-founder of Blackstone – one of the world’s largest private equity firms. But his current success, coupled with an estimated net worth of $38bn, is a far cry from his early life.
The son of a dry goods store owner, Stephen Schwarzman founded private equity firm Blackstone with fellow billionaire Peter Peterson in 1985. Initially a boutique merger-and-acquisition...
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Feb 9, 2024 · The brain behind this successful venture is 76-year-old Stephen A. Schwarzman, chairman and CEO of the Blackstone Group. Who Is Stephen Schwarzman? Stephen Schwarzman was raised in a Jewish family in Huntingdon Valley, Pennsylvania
