(Reuters) -Blackstone plans to invest up to $500 billion in Europe over the next decade, CEO Steve Schwarzman told Bloomberg Television in an interview on Tuesday, underscoring market confidence in
Blackstone Plans $500 Billion Investment in Europe Over Next Decade
(Reuters) -Blackstone is planning to invest up to $500 billion in Europe over the next decade, CEO Steve Schwarzman told Bloomberg Television in an interview on Tuesday, underscoring the increasing confidence in the region's prospects.
Schwarzman said Europe represents a "major opportunity" for the world's largest alternative asset manager, which oversees assets worth more than $1 trillion.
A Blackstone spokesperson confirmed the contents of the interview to Reuters.
With U.S. President Donald Trump reshaping global alliances and trade policies, Europe is pursuing new avenues for economic growth, potentially creating promising investment opportunities for firms such as Blackstone.
The European Union, for instance, is ramping up its defense spending, a sector often overlooked by private investors. Germany, the region's largest economy, has approved historic spending plans in March.
According to S&P, the U.S. and Canada have attracted 83% of all private equity and venture capital-backed aerospace and defense investment since 2020.
Europe is starting to change its approach, "which we think will result in higher growth rates. So this has worked out amazingly well for us", Schwarzman told Bloomberg Television.
Blackstone has invested about $100 billion in the UK and employs 650 people in its London office, he said.
Schwarzman supported Trump in the U.S. presidential election last year, according to an Axios report. He has long been viewed as an ally of the president.
Trump's tariff flip-flops have, however, prompted several businesses to optimize their supply chains and reduce U.S. exposure.
($1 = 0.8753 euros)
(Reporting by Ateev Bhandari in Bengaluru; Editing by Shinjini Ganguli and Devika Syamnath)
