By creating a positive economic impact and value for its investors Blackstone has become one of the world’s leading investment firms. The exceptional people at Blackstone strategically invest capital to help companies grow and prosper, and the communities in which they work become better places in which to live.
From $400,000 to $457 Billion In Just Over 30 Years
Blackstone has been a major tenant at 345 Park Avenue since 1988. In December 2018, the firm expanded its lease to include an additional four floors in the building.
Blackstone was founded 33 years ago by Stephen A. Schwarzman – the firm’s Chairman and Chief Executive Officer – and Peter G. Peterson, who retired in 2008 as Senior Chairman.
Starting in 1985 with only $400,000 in capital and a staff of four – including the two founders – in just over three decades Blackstone has grown to employ nearly 2,500 people in 24 offices worldwide with $457 billion in assets under management, as of September 30, 2018.
Blackstone has achieved such phenomenal success in a short period of time by adhering to five core beliefs that continue to guide the firm to this day:
- Attract the most gifted people to Blackstone with the firm’s personal setting and unique opportunities to create exciting new businesses
- Provide the highest levels of professionalism and integrity and senior-level attention to clients and relationships
- Invest significant amounts of the firm’s money alongside clients
- Always strive to achieve superior performance through excellence, uniqueness, and innovation
- People – with their creativity, imagination, dedication, teamwork, and integrity – will always be the key asset at Blackstone
Blackstone Is The World’s Largest Real Estate Private Equity Firm
Blackstone manages $120 billion in real estate assets in North and South America, Europe, and Asia. The firm’s investments encompass all parts of the risk-and-reward spectrum, from core+ real estate investments to opportunistic investments, and debt.
By identifying and acquiring high-quality investments at a discount to replacement cost, Blackstone is able to generate attractive risk-adjusted returns for the firm’s investors throughout all phases of the real estate cycle, and over the long term. Blackstone operates one of the leading real estate finance platforms and manages the publicly traded Blackstone Mortgage Trust, listed as BXMT on the New York Stock Exchange.
Twelve Offices, 500 Real Estate Professionals, And $250 Billion In Gross Real Estate Assets
In 2015, Blackstone purchased the Sears Tower (currently named Willis) in Chicago for $1.3B, the highest price ever paid for a U.S. office property outside NYC
From 12 Blackstone offices around the world, over 500 real estate professionals oversee nearly $250 billion in gross real estate assets. The commercial real estate portfolio at Blackstone includes investments in office, retail, hotel, logistics and industrial, and residential property:
- Office – with 229 million square feet of office space globally, Blackstone is one of the largest owners of office property in the U.S., including the 3.9 million square foot Willis Tower in Chicago.
- Retail – since 2011 Blackstone has been one of the most active investors in retail commercial real estate with 72 million square feet of retail assets.
- Hotel – Blackstone is one of the largest hospitality investors in the U.S., with assets including Motel 6, Hilton Hotels & Resorts, and The Cosmopolitan of Las Vegas.
- Logistics and Industrial – since 2010 Blackstone has been one of the most active investors in this asset class with 413 million square feet of logistics properties.
- Residential – with 315,000 residential units and homes, Blackstone is a major investor in residential real estate across the U.S. and the world, including Stuyvesant Town/Peter Cooper Village in Manhattan’s East Village, and Innovation Homes – the leading provider of single-family homes for rent in 13 U.S. markets.
Blackstone’s Asset Management Services Are Diverse And Global
It’s not just real estate investment that Blackstone excels in. The firm offers 11 diverse asset management services in the U.S. and around the globe:
- Private Equity
- Tactical Opportunities
- Strategic Partners
- Real Estate
- Hedge Fund Solutions (BAAM)
- Credit (GSO)
- Infrastructure
- Innovations
- Blackstone Insurance Solutions
- Life Sciences
- Registered Funds
Blackstone is a world leader in alternative asset management and a trusted partner to the world’s leading individual and institutional investors – including retirement systems representing over 31 million pensioners in the U.S. and millions more around the globe.
Giving Back To The Community Is A Cornerstone For The Blackstone Group
Blackstone gives back to the community through the Blackstone Charitable Foundation and the firm’s social responsibility initiatives.
Blackstone Charitable Foundation
The Blackstone Charitable Foundation was founded in 2007 to inspire entrepreneurship around the world.
The Foundation encourages and empowers entrepreneurs who create jobs and economic growth through the Blackstone LaunchPad, Blackstone Entrepreneurs Network, Blackstone Inclusive Entrepreneurship Challenge, and Blackstone Innovation Grants.
Corporate Social Responsibility
Blackstone is committed to responsible global corporate citizenship. The firm knows that by making companies stronger and positioning them for long-term growth, good jobs are being created, local communities are supported, and the futures of millions of people around the world are becoming more secure.
Blackstone invests responsibly, fosters growth, and helps protect the environment by investing in sustainability through projects such as Transmission Developers Inc. clean power lines, offshore wind farm Meerwind, and the Blackstone solar program that has been used to cut energy costs by about 10% across the firm’s entire portfolio of companies.
Blackstone Group At A Glance
Website: https://www.blackstone.com
Philosophy: Focus on the best outcomes for businesses and investments over a period of years rather than a short-term impact.
Launched: In 1985 with $400,000 in capital and a staff of four including founders Peter G. Peterson and Stephen A. Schwarzman.
Markets: Blackstone maintains 24 offices throughout North and South America, Asia, and Europe, including New York, Baltimore, Los Angeles, Houston, San Francisco, Sao Paulo, Seoul, Shanghai, Paris, Singapore, Tokyo, Hong Kong, Beijing, Sydney, Frankfurt, Dubai, and Mumbai.
Images courtesy of Yardi Matrix.
