American alternative asset management firm co-founded by Steve Schwarzman and Peter Peterson in 1985 — which grew to become the largest alternative asset manager in the world with over $1 trillion in assets — through private equity, real estate, credit, and hedge fund strategies.
Built the alternative asset management category into a permanent institutional asset class — Blackstone's real estate funds, private equity funds, and credit funds collectively transformed how pension funds and sovereign wealth funds allocated capital — making alternative assets a mainstream portfolio allocation rather than a fringe bet.
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