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Schwarzman Says Firm’s Holdings to Hire 50,000 Veterans

Stephen Schwarzman, chief executive officer of Blackstone Group LP, said the world’s biggest private-equity firm will hire 50,000 U.S. military veterans in its portfolio companies by 2018.

“Men and women who have served our country, often on foreign soil, sadly find a struggling economy and fewer jobs upon their return,” Schwarzman said yesterday on a conference call with reporters. “Our effort to hire more veterans makes good business sense to us when you consider that our portfolio of 80 companies employs more than 730,000 people.”