We are a firm of 1,300 professionals in 15 offices worldwide. But we are more than that. Our portfolio companies employ nearly one million people around the world making us a major factor in economies around the world. If our portfolio holdings and transactions were combined into a single company, it would rank as the equivalent of number 13 on the Fortune 500. We are a trusted partner to many of the world’s top institutional investors, and through our various investment vehicles we preserve and protect nearly $100 billion in assets for public and corporate pension funds, academic, cultural and charitable organizations. And we are a leading independent financial advisor, handling highly complex and critical M&A, restructuring and reorganization assignments for corporate and government clients around the world.
The firm was founded in 1985 by Stephen A. Schwarzman, our Chairman and Chief Executive Officer, and Peter G. Peterson, who retired as Senior Chairman in 2008. They began with a modest balance sheet of $400,000 but with a wealth of entrepreneurial ideas about creating a world class investment business built on a foundation of uncompromising commitment to excellence. Their vision was to create a firm that put clients’ needs first, that was independent and conflict free, adhered to the highest ethical standards and sought to create long-term value for all stakeholders.
From that beginning, Blackstone has become a leader in alternative asset management, private equity and real estate investments, credit portfolios and funds of hedge funds, and is also a top provider of restructuring and financial advisory services. All of these businesses reflect our strong partnership culture, solid foundation of intellectual capital, commitment to exceptional performance and uncompromising integrity.
Blackstone completed its initial public offering in June 2007 and is listed on the New York Stock Exchange (ticker symbol BX).