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Blackstone Makes History with $1 Trillion AUM

Blackstone acquires James Packer's Crown casino empire for $6.5 billion Stephen Schwarzman, Blackstone Wikipedia

Blackstone acquires James Packer’s Crown casino empire for $6.5 billion Stephen Schwarzman, Blackstone

Stephen Schwarzman’s Blackstone private equity firm set a world record when it became the first ape firm in history to have $1 trillion in assets under management. Blackstone revealed the news in a quarterly earnings report.

CEO and co-founder Steve Schwarzman cited the firm’s willingness to think outside the traditional PE box for its success. In an earnings call with investors, he said, “Our original strategic plan was to start in corporate advisory and then quickly move into private equity, followed by a succession of other asset management businesses over time.”

“This milestone reflects the extraordinary trust we have developed with our investors,” added Schwarzman, in a statement.

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Stephen Schwarzman founded private equity firm Blackstone with fellow billionaire Peter Peterson in 1985.

According to his official bio, Stephen A. Schwarzman has been involved in all phases of Blackstone’s development since its founding. He is an active philanthropist with a history of supporting education, as well as culture and the arts, among other things. In 2020, he signed The Giving Pledge, committing to give the majority of his wealth to philanthropic causes. In both business and philanthropy,

Blackstone is the world’s largest alternative asset manager, with $1 trillion in AUM (Assets under management). The firm says that it serves institutional and individual investors by building strong businesses that deliver lasting value. Its scale – with more than 12,600 real estate assets1 and 230+ portfolio companies – enables them to invest in dynamic sectors positioned for long-term growth.

The firm has established leading investing businesses across asset classes, including private equity, where it is a global leader in traditional buyout, growth equity, special situations and secondary investing; real estate, where it is currently the largest owner of commercial property in the world; hedge fund solutions, where it is the world’s largest discretionary hedge fund investor; and credit, where it is a global leader and major provider of credit for small, middle-market and other companies. Blackstone also has major businesses dedicated to infrastructure and life sciences investing, as well as delivering the firm’s investment management expertise and products to insurance companies.



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