In an interview with Bloomberg, Blackstone Chief Executive Officer Steve Schwarzman stated that the firm plans to invest as much as $500 billion in Europe over the next decade. Schwarzman stated that this represents a significant opportunity for the firm, as they are adjusting their approach, which is expected to result in higher growth rates. Blackstone recently marked its 25th anniversary of operations in London.
Blackstone is currently the largest alternative asset manager, with over $1 trillion in assets under management and offices in 27 cities worldwide. Blackstone’s London office is expected to relocate to a new building under construction on Berkeley Square in Mayfair. Now Blackstone employs over 700 people in the area.
Blackstone now has approximately $100 billion invested in the UK. The firm has also invested in a data center in northern England. Schwarzman pointed out that the UK government has been focused on helping set up that deal.
In a social media post, Blackstone Co-Chief Investment Officer Lionel Assant pointed out that on the deals front, the firm bought the Savoy Group, Merlin Legoland, United Biscuits, and, more recently, Adevinta.
Assant pointed out that the firm expects the cost of debt to decrease, which is beneficial to their business as inflation returns to pre-COVID levels.
“And while we see some choppiness in the markets, it’s actually not unhelpful to us because we always take the long-term view and it enables us to lean in on assets and sectors likze digital infrastructure, energy transition that we like,” said Assant.
