Schwarzman Of Arabia

The Middle East has been enchanting LBO firms lately, notably The Blackstone Group and Ares Management. Blackstone will be closing its fifth fund – at last – with a little over $22 billion at the end of the July, a source tells Buyouts. After reopening the $15.6 billion fifth fund last fall, Schwarzman was spotted on the Arabian peninsula in fundraising mode. 

Abu Dhabi Investment Authority, meanwhile, is the secret $375 million investor in Ares. You can read more about both situations at buyoutsnews.com.