Schwarzman says Blackstone's model will hold up despite downturn

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.

WSJ Logo
110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the BrinkExternal link

110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink