Blackstone's Baratta and Chae Join Schwarzman as Billionaires
Steve Schwarzman and Jon Gray have long been the public faces of Blackstone Inc. 's billionaire elite, but more of the buyout giant's top brass are fitting that description these days.
Joseph Baratta and Michael Chae now have fortunes of more than $1 billion each through the world's largest alternative-asset manager, according to the Bloomberg Billionaires Index, expanding a small group of executives at Wall Street firms joining their founders among the mega-wealthy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 hours ago
- Yahoo
Blackstone's $500 Billion Power Play: Why Europe Could Be the Next Big Investing Frontier
Blackstone (NYSE:BX) is gearing up for a decade-long, $500 billion investment spree across Europea bold signal that the world's largest alternative asset manager sees the continent's shifting economic backdrop as fertile ground for long-term bets. CEO Steve Schwarzman, speaking with Bloomberg, said Europe is starting to embrace pro-growth reforms, which could unlock a wave of new opportunities. That optimism isn't isolated. At last week's SuperReturn conference in Berlin, heavyweights like Permira, BC Partners, and Brookfield also pointed to Europe as a market worth leaning into, especially with dealmaking elsewhere under pressure. Warning! GuruFocus has detected 4 Warning Signs with BX. Blackstone's timing might be strategic. The firm already manages $100 billion in UK investments and holds a commanding position in European real estate, including one of its most profitable calls ever: a concentrated bet on urban warehouses. Its London officeonce the firm's only outpost outside New Yorknow houses 650 employees and is set to move into a new building in Mayfair. One of its newer projects, a data center site in Northern England, could become the largest of its kind in Europe. Schwarzman also credited the UK government for being really focused on making big-ticket investments easier to executea key signal for peers monitoring regulatory risk. But Blackstone isn't stopping at Europe. The firm is also starting to see the Middle East as more than just a capital source. Cities like Riyadh and Dubai, fast becoming global business hubs, are now being eyed as active investment destinations. Schwarzman pointed out that the pace of development in the region is reshaping the opportunity set. In a world where global capital is getting choosier, Blackstone's pivot toward new geographies may be less about chasing yieldand more about being early in the next wave of structural transformation. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
19 hours ago
- Bloomberg
Schwarzman Says Blackstone to Invest $500 Billion in Europe
Blackstone is planning to invest as much as $500 billion in Europe over the next 10 years, Chief Executive Officer Steve Schwarzman said in an interview to mark the 25th anniversary of the money manager's operations in London. 'We see it as a major opportunity for us,' Schwarzman said in an interview with Bloomberg's Francine Lacqua on Tuesday. 'They are starting to change their approach here, which we think will result in higher growth rates. So this has worked out amazingly well for us.' (Source: Bloomberg)
Bloomberg
19 hours ago
- Bloomberg
Blackstone Said to Mull Launch of Cirsa IPO in Coming Weeks
Blackstone Inc. is considering launching an initial public offering of Spanish casino operator Cirsa Enterprises as soon as the coming weeks, according to people familiar with the matter, as fading volatility has opened a window for companies to go public before the summer lull. The company's IPO could raise less funds than previously expected after its private equity owner recently injected cash to pay down debt, said the people, who asked not to be identified as the information is private. An IPO of Cirsa could raise as much as €1 billion ($1.1 billion), Bloomberg reported in November, before the capital injection.
