This article directly stems from the research process for our American single family office database. Our list of U.S. single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity, and renewables.
Stephen is the chairman, co-founder, and CEO of investment firm Blackstone which has over $950bn assets under management. Schwarzmann and Peter Peterson co-founded the company in 1985, which has now become one of the largest private equity firms in the world. As of November 2022, Stephen has an estimated net worth of $28.2bn and according to Forbes, he is in the top 50 richest people in the world. In this article, we will investigate if Stephen manages his wealth through a family office.
No family office but investments spearheaded through Blackstone
Blackstone is a global investment firm that focuses on real estate, private equity, hedge fund solutions, and credit & insurance. In November 2022, the group committed $350m to acquire a majority stake in the IT company and product engineers, R Systems. Recently, the group has diversified its portfolio to gain a foothold in the renewables and alternative assets market. In June 2022, Blackstone invested in Esdec Solar group to accelerate its growth and focus on the development of further rooftop and mounted PV projects. Schwarzman is an active philanthropist and a strong supporter of education, culture, and arts. In 2020, he joined the likes of Warren Buffet, Elon Musk, and Scott Mackenzie by signing the Giving Pledge. He was also responsible for the largest single donation to Oxford since the Renaissance with a $150m donation to found a new centre for the humanities that will have performing venues and an Institute for Ethics in AI. Schwarzman also established the Schwarzman Scholars program, in which he has invested over $575m to send students from around the world on a one-year master’s program at Tsinghua University.
Picture source: Markus Spiske