King of Capital

by David Carey

knew; and advising Firestone Tire & Rubber when it sold out to Japan’s Bridgestone, Inc., for $2.6 billion, a deal Schwarzman guided. As Peterson and Schwarzman hoped, the M&A business gave the firm access to executives that eventually turned up LBO opportunities. Blackstone’s first buyout developed that way. It was puny compared with KKR’s big deals—a mere $640 million—but it would

and they began to fill the void. It

wholesale and sell retail. His team had recently done just that with two other publicly traded office property companies, CarrAmerica Realty and Trizec Properties, Inc., where the

attrition, but the company also added sixteen hundred jobs after