09:45 pm
Blackstone Group LP expects its assets under management (AuM) to exceed half a trillion dollars within the next year, Chairman and Chief Executive Stephen Schwarzman said on Thursday.
"We will begin raising our flagship private equity and real estate funds in the next several months. We expect our fundraising supercycle to bring the firm`s total AuM above the $500 billion milestone, likely in the first half of next year," Schwarzman said in an investor call for Blackstone`s second-quarter earnings.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.