Blackstone to invest US$500b into Europe: Bloomberg
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The news: Blackstone is planning to invest up to USD500 billion ($767 billion) in Europe over the next decade, CEO Steve Schwarzman told Bloomberg on Tuesday.
The context: During an interview with the news outlet marking the 25th anniversary of the asset manager’s operations in London, Schwarzman said: “We see it [Europe] as a major opportunity for us. 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.”
Large investment firms are increasingly touting the potential Europe has to offer, as global economic risks make the bloc more attractive for investment.
Schwarzman said: “The UK has been really helpful, really focused to make that happen.”
The numbers: Blackstone is the world’s largest alternative asset manager, with over USD1 trillion in assets under management and offices across 27 cities. Blackstone opened its London office in 2000, which now employs 650 people and has around USD100 billion invested in the UK.
The source: Bloomberg
