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Blackstone misses $1trn mark after property investor outflows

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Blackstone CEO Steve Schwarzman, Photo: David A Grogan/CNBC/NBCU Photo Bank/NBC Universal via Getty Images

Blackstone CEO Steve Schwarzman, Photo: David A Grogan/CNBC/NBCU Photo Bank/NBC Universal via Getty Images

Blackstone CEO Steve Schwarzman, Photo: David A Grogan/CNBC/NBCU Photo Bank/NBC Universal via Getty Images

One year after Blackstone CEO Steve Schwarzman told investors the firm would reach $1tn (€920m) in assets under management in 2022, it's shy of that mark.

The world's largest alternative asset manager commanded $975bn at the end of last year, up from $951bn in the prior quarter, short of the milestone its senior leaders once thought was just around the corner. The target was originally set for 2026, but was accelerated amid a market boom.


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