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Blackstone’s Schwarzman defends firm’s record: Wall Street Journal

Stephen Schwarzman, Blackstone’s CEO, delivered an impassioned defense of BX’s record during the firm’s quarterly earnings call, the Wall Street Journal reported. Blackstone’s portfolio companies have added more than 100,000 net jobs during its ownership over the past 15 years, the story said. BX has made more than 700 control investments during this time but has only experienced one bankruptcy filing and no liquidations, the WSJ said. The firm reported a profit of $779.4 million, or $1.15 a share, compared with $442.7 million, or 64 cents a share, in the same period a year earlier, the story said.