The Blackstone Group Inc. is an American alternative investment management company based in New York City. In 2019, Blackstone converted from a publicly traded partnership into a corporation.
Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. As of 2020, the company's total assets under management were approximately US$619 billion.
Blackstone was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson and Stephen A. Schwarzman, who had previously worked together at Lehman Brothers.