![]() ![]() īlackstone was originally formed as a mergers and acquisitions advisory boutique. Altman, another Lehman veteran, left his position as a managing director of Lehman Brothers to join Peterson and Schwarzman at Blackstone in 1987, but left in 1992 to join the Clinton Administration as Deputy Treasury Secretary and later founded top advisory investment bank Evercore Partners in 1995. At Lehman, Schwarzman served as head of Lehman Brothers' global mergers and acquisitions business. The two founders had previously worked together at Lehman Brothers. "Schwarz" is German for "black" "Peter", "Petros" or "Petra" (Πέτρος and πετρα, the masculine and feminine rendering of the word, respectively), in Greek means "stone" or "rock". : 45–56 The founders named their firm "Blackstone," using a cryptogram derived from the names of the two founders (Schwarzman and Peterson). Schwarzman with $400,000 in seed capital. ( leveraged buyout and the venture capital bubble)īlackstone was founded in 1985 by Peter G. Schwarzman, who had previously worked together at Lehman Brothers. īlackstone was founded in 1985 as a mergers and acquisitions firm by Peter G. As of Q1 2023, the company's total assets under management were approximately US$991 billion, making it the largest alternative investment firm globally. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. is an American alternative investment management company based in New York City. ![]()
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