Many of the giant alternative asset managers in the U.S. have unveiled plans to transfer leadership to a younger generation. Many, that is, except for the biggest.
Blackstone Group LP has yet to publicly name a successor to 70-year-old co-founder and Chief Executive Officer Steve Schwarzman. The silence stands out after Carlyle Group LP’s announcement Wednesday that its founders will hand the firm to a set of younger executives. Carlyle joins a host of alternative-asset managers -- KKR & Co., Apollo Global Management LLC and TPG -- in bolstering their C-suites with fresh faces in recent years.