Schwarzman kept a plaque on his desk as a reminder of Blackstone's disastrous 1989 acquisition of Edgcomb.
Humiliating loss forces rethink of Blackstone's investment process
STEPHEN SCHWARZMAN
October 19, 2026 07:00 JST
More than 40 years have passed since I founded Blackstone in 1985. Of all that has happened since, three episodes have remained with me. In a sense, they are my life itself.
