Schwarzman Moves To Europe As Blackstone Grows

Stephen Schwarzman, the chief executive of Blackstone Group, will move to Europe early next year to better manage his firms international growth, Reuters reported. Schwarzman will reportedly live abroad temporarily, for a period of months, and has already spent more than half of 2010 overseas. Blackstone recently raised a $15 billion private equity fund, a significant part of which will likely be invested in Asia. It is also raising a yuan-denominated fund for China, Reuters said.

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