Stephen Schwarzman

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Blackstone to shut mutual fund

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Blackstone Group, the asset manager run by Stephen Schwarzman, will shutter a mutual fund that allocates money to hedge fund managers as the vehicle’s main backer, Fidelity Investments, is pulling out.

Blackstone Chief Starts $300m China Scholarship

Stephen Schwarzman

Stephen Schwarzman, the billionaire chairman of Blackstone Group, is setting up a $300m scholarship for foreign students to attend China’s Tsinghua University, the alma mater of senior officials including President Xi Jinping.

Big Number: $148m For Blackstone's Schwarzman

Stephen Schwarzman

Bloomberg's Erik Schatzker reports that Stephen Schwarzman, chairman and chief executive officer of Blackstone Group LP, received $148.5m in pay and cash dividends in 2011, topping rivals at Carlyle Group and KKR & Co.

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Blackstone to shut mutual fund

Blackstone Group, the asset manager run by Stephen Schwarzman, will shutter a mutual fund that allocates money to hedge fund managers as the vehicle’s main backer, Fidelity Investments, is pulling out.