"We believe in the basic prospects of this area," says Blackstone (BX) Chairman Stephen...


"We believe in the basic prospects of this area," says Blackstone (BX) Chairman Stephen Schwarzman, explaining why Asia's growth slowdown and lower asset prices has his firm excited about deploying money there. The company recently closed a property fund and has $13.3B burning a hole in its pocket. 

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  • Uncle Pie
    , contributor
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    The article doesn't say whose money is being invested in Asia. Probably Blackstone's clients' money (eg, the Yale Endowment), on which they get 2%/year in "management" fees and 20% of all profits, without ever having any actual skin in the game! Nice work if you can get it!
    26 Oct 2012, 10:39 AM Reply Like
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