A Wall Street giant has raised $40 billion during the President’s visit to Riyadh over the weekend

22 May 2017860

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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.

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