The two founders had previously worked together at Lehman Brothers. : 45–56 The founders named their firm 'Blackstone' using a cryptogram derived from their names: 'Schwarz' is German for 'black' 'Peter', 'Petros' or 'Petra' (Πέτρος and πετρα, the masculine and feminine rendering of the word, respectively), means 'stone' or 'rock' in Greek. Schwarzman with $400,000 in seed capital. ( leveraged buyout and the venture capital bubble)īlackstone was founded in 1985 by Peter G. Schwarzman, who had previously worked together at Lehman Brothers. īlackstone was founded in 1985 as a mergers and acquisitions firm by Peter G.

As of June 2023, the company's total assets under management were approximately US$1 trillion, making it the largest alternative investment firm globally. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. is an American alternative investment management company based in New York City.