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Blackstone’s Schwarzman Says Jon Gray Is Part of Succession Plan

Blackstone Group LP, the world’s biggest alternative-asset manager, has a succession plan that includes real estate chief Jon Gray, co-founder Steve Schwarzman said.

“Jon is part of our succession plan,” Schwarzman, the New York-based firm’s chief executive officer, said in a Yahoo! Finance interview on Tuesday. “Something could always happen to me -- I sort of hope not, but eventually that will happen.”