345 Park Ave.
New York, NY 10154
CEO: Stephen Schwarzman
Stock Symbol: BX
The Blackstone Group is a leading investment
firm focused on private equity, real estate and alternative investments
like hedge funds, mezzanine funds and closed-end mutual funds.
It also offers corporate advisory and restructuring services.
Blackstone is one of the most respected private equity firms
in the world.
Blackstone specializes in acquiring or investing in businesses in hopes of a turnaround and bigger sale in the future. Blackstone says its portfolio companies employ over 710,000 people worldwide, making it a major factor in the economies around the world.
Some of the companies that Blackstone has significant investments include: Hilton Worldwide, Nielsen, Michaels Stores, Sungard, Seaworld Parks, TravelPort and the Weather Channel.
For 2009, Blackstone reported revenues of $1.77 billion and net loss of $2.39 billion. Assets under management were $98.2 billion.
Blackstone Group was founded in October 1985 when it opened its first small office with a staff of four, including the two founders Peter Peterson and Stephen Schwarzman and a balance sheet of $400,000.
In 1987, the firm launched Blackstone Capital Partners I, its first private equity fund. To date, the combined Blackstone private equity funds have raised $44.4 billion.
The firm went public in June 2007 on the NY Stock Exchange.
Updated January 2, 2011