Deals
Blackstone May Double Assets to $800 Billion in Five Years
- CEO Schwarzman says $1 trillion in assets is ‘possible’
- His firm has doubled client assets since middle of 2012
Blackstone's CEO on Company's Growth Targets
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Blackstone Group LP’s Steve Schwarzman said his firm may double assets under management to $800 billion over the next five years as it expands into new investing areas.
“We have internal targets, plans, aspirations to basically double where we are, which would take us to $800 billion,” Schwarzman, the firm’s co-founder and chief executive officer, said in a Bloomberg TV interview in Riyadh on Wednesday. Asked whether the New York-based asset manager could be a trillion-dollar firm, he said: “That’s possible.”