Schwarzman says Blackstone's model will hold up despite downturn

Wednesday 12 November 2008 at 12:27

Stephen Schwarzman, chief executive of The Blackstone Group, argued that his company remains well positioned after it posted a third-quarter loss last week and said opportunities can be found in private equity.

Speaking at the Merrill Lynch Banking & Financial Services Conference, Schwarzman addressed analysts' concerns that private equity would suffer because of the difficulty in finding attractively priced debt to finance deals during the credit crunch.