<article><a href="https://www.dealstreetasia.com/?s=blackstone">Blackstone </a>Group LP could double its assets under management to $800 billion in five years, according to Chief Executive Officer Steve Schwarzman.</article>

<a href="https://www.dealstreetasia.com/?s=blackstone">Blackstone </a>Group LP could double its assets under management to $800 billion in five years, according to Chief Executive Officer Steve Schwarzman.
“We have internal targets, plans, aspirations to basically double where we are which would take us to $800 billion,” Schwarzman said in Bloomberg TV interview in Riyadh on Wednesday. When asked whether the New York-based asset manager could be a trillion dollar fund, he said: “That’s possible.”
Schwarzman, 70, said last week that he expects Blackstone’s assets to continue rising in the fourth quarter. The firm is raising money for its new infrastructure fund, and it’s making a foray into early-stage growth investing, President Tony James said.
Overseeing $387.4 billion across private equity, real estate, credit and hedge funds as of Sept. 30, Blackstone is considered a bellwether for the alternative-asset industry. The firm added an additional $10 billion this week with the acquisition of energy investor Harvest Fund Advisors.
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Bloomberg

When asked whether the New York-based asset manager could be a trillion dollar fund, he said: “That’s possible.”

Blackstone plans to double assets to $800b in five years

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Blackstone plans to double assets to $800b in five years

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