Blackstone's Schwarzman Launches Program To Create Jobs
NEW YORK (Reuters) - Stephen Schwarzman, Chief Executive Officer of private equity firm Blackstone Group LP (BX.N), said on Friday he's launching a program that he hopes can create thousands of jobs in communities hit the hardest by the financial meltdown. Blackstone's charitable foundation is committing $50 million over five years to help foster entrepreneurship. As part of that, it is granting $2 million to start programs on the campuses of Wayne State University and Walsh College in southeast Michigan. "We think this is quite a powerful concept," Schwarzman said in a phone interview. "We started working on this right after the Lehman crisis... We looked and said: What can we add on a differentiated basis that can help people?"
1 May 2010•2 mins read
