Blackstone Group LP Chairman Stephen Schwarzman will relocate temporarily to Europe as the world’s largest private-equity company increasingly pursues deals outside the U.S., according to a person familiar with his plans.
Schwarzman, 63, will work in Europe initially for about four to six months, while continuing to spend about the same amount of time he already does in the New York office, said the person, who declined to be identified because the plans are private. Blackstone, based in New York, has offices in Paris, London, and Dusseldorf, Germany, according to its website.
Blackstone, created in 1985, has expanded businesses such as real estate, funds of hedge funds and corporate advisory while looking further afield for transactions. The firm’s European holdings include Madame Tussauds operator Merlin Entertainments Group, Europe’s largest theme park company.
Peter Rose, a spokesman for the firm, declined to comment on Schwarzman’s plan, which was reported earlier today by Reuters.
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