When you read about private equity billionaire Steve Schwarzman, you expect to see big numbers. Even so, one number Blackstone's chief executive officer threw out recently was startling. “The alternative class, the stuff we do, tends to make somewhere around 1,000 basis points more than the stock market,” he said.
U.S. policy makers are hindering economic progress by failing to fix the nation’s education system and should take a more hard-line approach to making changes, said Blackstone Group LP co-founder Steve Schwarzman.
James Tomilson Hill, the Blackstone Group LP vice chairman who runs the company’s $58 billion hedge- fund business, has emerged as a billionaire as the world’s largest private-equity firm and his art collection have surged in value.