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Blackstone Plans to Convert to a Corporation as Assets Top $500 Billion
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Blackstone Plans to Convert to a Corporation as Assets Top $500 Billion
Changing the company’s structure will increase the firm’s “ability to reach a dramatically larger audience,” Chief Executive Officer Stephen Schwarzman, said Thursday in a Bloomberg Television interview. Private equity firms including Blackstone, the world’s largest alternative asset manager, have seen their stock prices lag since going public even as investors have poured money into their buyout, credit, real estate and other funds. Blackstone has epitomized the industry’s fundraising muscle.
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