: Billionaire Stephen Schwarzman will begin flying around the globe next month to collect money for The Blackstone Group’s latest buyout fund – a monster horde of cash that could top the record $22 billion that the New York firm raked in for its last fund.
Assuming a standard 1% management fee (which excludes the standard 20% share of profits). Blackstone will generate $220 million a year before it makes a single investment decision.
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