Is Stephen Schwarzman an Investor or IR type of guy
Was Stephen more of a "deal" guy, investor or a fund raiser type of guy?
Thanks in advance for any input.
So he raised capital AND sourced deals AND analysed deals
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Here’s a great interview where he goes in deep on the beginning of BX.
https://open.spotify.com/episode/51n7HXwxUeDkaGDFJKxDEX?si=wwqxWxlCSfCZ…
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Strong accounting background, never actually invested.
Could you please elaborate on this point? According to his biography he alone was, in the beginning of Bx, the IC…
Deal guy. Used to be a top M&A banker before he left to found BX. Obviously today he's more of a full-time financial celeb than anything
He headed m&a for Lehman and was its youngest partner.
He was also intricately involved in every deal in Blackstone in the beginning and he didn't use to have an investment committee at all, he would just approve or reject. He also got involved in financing and so forth.
He also did fundraising where he tells the story of how difficult it was to raise funds and how Prudential gave them a lifeline, he also dealt heavily with the IPO process. Blackstone's co-founder Peter Peterson was only focused on IR and fundraising.
In summary, he did both. Highly recommend King of Capital and to a lesser extent his autobiography What it Takes
He speaks in IC and very much cares about deals.
Source: work at BX
out of curiosity are associates in attendance for IC meetings?
yes. sometimes they speak but usually MD will be doing most of the talking with principal chiming in.
The other book on him is way better. Cant remember then name. Black cover.
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