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Investing.com -- Blackstone (NYSE:BX) Inc. plans to invest up to $500 billion in Europe over the next 10 years. This announcement was made by Chief Executive Officer Steve Schwarzman during an interview marking the 25th anniversary of the company’s operations in London.
Schwarzman expressed optimism about the investment, stating that changes in approach within Europe could lead to higher growth rates. He described the situation as a "major opportunity" for Blackstone.
This announcement is another indication of investment firms showing interest in Europe. Last week, at the SuperReturn International conference in Berlin, executives from large firms like BC Partners, Permira, and Brookfield Asset Management (TSX:BAM) supported the idea of Europe as an attractive investment destination, especially considering the rising global economic risks.
Blackstone’s London office currently employs 650 people, according to Schwarzman. The firm has already invested about $100 billion in the UK, making it one of the largest foreign investors in the country. Schwarzman praised the UK government for its assistance and focus in facilitating these investments.