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 largest alternative asset manager, announced on April 10 that it would pay US$14 billion for a portfolio of properties that General Electric wanted to shed. The largest real estate transaction since the financial crisis, this deal not only cemented Blackstone's standing as the biggest landlord on the planet. It also underscored how Blackstone's financial clout and real estate savvy made it the buyer someone like...
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