Schwarzman Sees ‘Avalanche’ of Opportunities From Tax-Hike Risk
- Blackstone CEO says U.S. economy is ‘on fire’ at Qatar Forum
- Higher valuations could also motivate sellers, Schwarzman says
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Blackstone Group Inc. Chief Executive Officer Stephen Schwarzman said the risk of an increase in U.S. capital gains taxes has led to explosive growth in potential targets for his alternative investment firm, as corporate owners look to cash in ahead of any legislative changes.
“It’s really like an avalanche now of opportunities -- people want to sell things before their taxes are much higher for selling the same thing, potentially next year,” Schwarzman said in a virtual panel discussion at Bloomberg’s Qatar Economic Forum. “It’s giving us a lot of opportunities, and what we have to do is be careful, always have a very exciting plan for growth.”