Because people start so early, you have to do so much to get in college. Blackstone buys Clarus to bulk up in life sciences | Reuters RITHOLTZ: Really interesting. RITHOLTZ: in The Atlantic. We had our second real estate fund, which was I think about $1.2 billion or $1.3 billion. Matthew Delly on LinkedIn: Areas of thematic investing focus from A former employee of SoftBank-backed messaging app IRL alleged in a legal filing that the company has inflated its user count and retaliated against him and other employees who raised concerns about the accuracy of its user numbers. We dont have an ego and, you know, we can help facilitate transactions, whatever, U.S. perspective and global perspective. JosephBarattais the Global Head of Private Equity and a member of Blackstones Board of Directors. Meaning, your team, your group would be a Fortune Top 20 Company. So the way I do, you know, this job, in addition to managing a bunch of our people and engaging in other stuff at the firm is I want to keep a hand in the investing, and engaging with our company. Is that the sort of infrastructure were talking about in addition to all the obvious ones weve been mentioning? BARATTA: No. And were like, whoa, this is the sign, like this is the canary in the coal mine. Whats it like trying to manage a rapidly growing private business, with eventually the currencies became more or less uniform, but different languages, different customs, different culture, different ways of doing business? BARATTA: manufacturing those facilities. "The current volatile and unpredictable environment reinforces . at the top of the firm, you know, Steve, John, a few others of us who are on the management committee are really able to push down into the organization like what were seeing and to change investment behaviors. He is also a member of the Board of Trustees of Georgetown University; is a trustee of the Tate Foundation; and serves on the board of Year Up, an organization focused on youth employment. Like, look at Disney, you know, Disney, in large part, was hugely enabled by streaming services because of the amazing content it owned. The Tate is such a significant cultural institution in the U.K. Its funded largely by the state. Its a great group of people, great organization. I mean, his family dates back to like Louis Quatorze. And so, were trying to find the businesses that are going to be enabled and benefited by AI, and avoid the things that are going to be dislocated. So given the change in size of private equity over the past 25 years, is there a sweet spot? Were seeing maybe wage increases beginning to decline. So we were materially bigger than we were 25 years ago. BARATTA: Yeah. Of course, I mean, France, Germany, Italy, Spain, you know, the whole Nordic region, Sweden, theyre not . For office-specific contact information, please visit our our offices page. Theres some like risk management things that you always need to be mindful of. But what it is, is we have to figure out what businesses are going to be disrupted and avoid those, and figure out what mature businesses will be enabled by this and invest in it. And we were like, look, wed be great partners as youre looking at assets. BARATTA: Yeah. BARATTA: How could a kid from Sacramento be a Dallas Cowboys fan? And for the last six or seven years, the way weve been expressing investing in energy is an energy transition, so in companies that are helping accelerate the transition from burning hydrocarbons to produce electricity and energy, to renewable sources. How are you looking at a geopolitical event like that affecting, you know, whats taking place on the continent? I found this to be a fascinating conversation because Joes career has very much paralleled the growth of private equity. The transcript from this weeks, MiB: Joe Barratta, Blackstones Global Head of Private Equity, is below.
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