Firm News

Steve Schwarzman & Jon Gray Discuss Blackstone’s Conversion to a C-Corp

2019 年 4 月 18 日

Our Chairman, CEO & Co-Founder Steve Schwarzman and President & COO Jon Gray discuss Blackstone’s conversion to a corporation from a publicly traded partnership, which we believe will deliver significant value to our shareholders.

Converting to a corporation will make it vastly easier to own Blackstone’s stock, unlocking a much wider universe of shareholders. It eliminates the burdensome K-1 tax forms that create significant complexity for both our domestic and foreign shareholders. Blackstone will also become eligible for inclusion in several market indices, allowing many index funds and ETFs to invest in our stock for the first time.

Blackstone is the clear leader in the fast-growing alternative asset management industry – with powerful tailwinds at our back. Since our IPO, our assets under management have increased six-fold to more than a half a trillion dollars, driven by exceptional investment performance. Now, with a security that will be much easier to own, we believe our rising earnings power, and the increasingly recurring nature of those earnings, should command a higher valuation for the stock over time.

For additional information, please read our investor presentation outlining this announcement.