You are here

From partners to 'friendly' rivals

One-time partners Steve Schwarzman and Larry Fink's megaphones are only getting louder as Blackstone and BlackRock gather more assets and expand into new activities.
Saturday, July 4, 2015 - 05:50
BT_20150704_RIVALS4_1756950.jpg
CORDIAL NOW: BlackRock's Mr Fink (left) says he and Blackstone's Mr Schwarzman (right) have reconciled. He said in a 2011 interview that "it was a very bitter divorce, but I don't regret it". He added "I'm larger" - a boast about BlackRock's assets under management.

TO UNDERSTAND how Steve Schwarzman and Larry Fink - one-time partners who had an ugly breakup two decades ago - today compete for attention among the most powerful people in business and finance, consider the events of a few days in mid-April.

Mr Schwarzman's Blackstone Group, the world's