Blackstone posted another solid quarter of earnings this morning.
CEO Steve Schwarzman is feeling pretty good about his investment firm, and its prospects, in light of yet.
“We’re like an Apple, a Google, a Boeing, a [Caterpillar], a Hermes,” Schwarzman said this morning with Betty Liu’s In the Loop on Bloomberg TV. “We have customers who need us.”
It sounds weird, but he’s right. Blackstone is the glossiest brand it in its industry. It is the biggest private equity firm in the world and it seems like everyone wants to work with Blackstone and Schwarzman.
Lately, the strength of Blackstone has been its real estate investing. That’s one big reason why it was able to join with Wells Fargo to buy GE’s real estate holdings for $US26.5 billion.
It’s hard to imagine any other private equity shop would have been able to do that deal.