Blackstone Inc. is on the brink of a milestone that no other private equity firm has reached: running more than $1 trillion.
Analysts expect the firm to eclipse that mark when it reports quarterly results Thursday. It’s a far cry from the firm’s debut in 1985 — with $400,000 — marking one of the most dramatic transformations in modern markets.
Private equity firms have risen to power major tracts of the US economy. Blackstone became the biggest of them all by venturing beyond its buyout roots, becoming an everything store for financial products outside stocks and bonds, and leading private equity’s shift into the vast world of alternative investments. That strategy stoked breakneck growth, with Blackstone roughly doubling its assets over the past five years.
Read the full story on Bloomberg here.