BloombergTVBillionaire private equity tycoon Steve Schwarzman is doing something really patriotic.
Today, he announced that Blackstone Group will hire 50,000 military veterans.
These hires will be made within Blackstone’s portfolio of companies over the next five years, the firm said in a release.
Blackstone (NYSE:BX) today announced it has partnered with The White House to support veterans and military families. Led by First Lady Michelle Obama and Dr. Jill Biden, “Joining Forces” is a national initiative to encourage private sector hiring of America’s veterans. Blackstone plans to hire 50,000 veterans across its portfolio of companies over the next five years.
“Veterans embody many of the skills, talents and personal attributes we look for in employees. They have high integrity; they are collaborative, hardworking and they are able to adapt to dynamic situations,” said Blackstone Chairman, CEO and Co-Founder Steve Schwarzman. “Veterans are reliable, motivated and trustworthy employees – the type of people that will help Blackstone’s portfolio companies succeed and grow. We are proud to partner with the President and Mrs. Obama, Vice President and Dr. Biden to do our part to help the men and women who have served our country develop successful careers following their military service.”
Blackstone also plans to put in place support structures, including a management trainee program, which will help veterans transition into their new private sector careers.
Steve Schwarzman added, “Training and mentoring can help cultivate skills and ease the transition to civilian life. We want to help veterans build life-sustaining careers after their service to this country has ended.”
[Hat Tip: Dan Primack]