A Wall Street giant has raised $40 billion during the President’s visit to Riyadh over the weekend
Read the original article by Raul Hernandez or read just the key points below;
- Blackstone Group, the investment giant led by Steve Schwarzman, announced a major deal worth $40 billion with Saudi Arabia’s Public Investment Fund contributing at least $20 billion to the fund during President’s visit to Riyadh over the weekend.
- A Credit Suisse research report noted that Blackstone’s new infrastructure fund could eventually be three times the size of Global Infrastructure Partners’ $15.8 billion fund, the largest infrastracture investment fund to date.
- Blackstone CEO Steve Schwarzman has been acting as an outside adviser for the Trump White House, and serves as the chair of the president’s strategy and policy forum, a panel of business leaders including JPMorgan Chase CEO Jamie Dimon and BlackRock CEO Laurence Fink.
