Blackstone (NYSE: BX) today announced that it is converting to a corporation from a publicly traded partnership and released its first quarter 2019 results. For more information on these announcements, please visit the following links: (1) Investor Presentation on Blackstone’s Conversion to a Corporation; (2) Blackstone’s First Quarter 2019 Results.

Stephen A. Schwarzman, Chairman, CEO and Co-Founder said, “I am pleased to announce the compelling next step in Blackstone’s evolution as a public company: the firm’s conversion to a corporation. Blackstone has established itself as one of the leading public companies in the world, with robust long-term revenue and earnings growth and one of the most powerful brands in financial services. We believe the decision to convert will make it significantly easier for both domestic and international investors to own our stock and should drive greater value for all of our shareholders over time.”

Steve Schwarzman and President & COO Jon Gray also discussed Blackstone’s conversion to a corporation, significant growth since its IPO to more than half a trillion dollars in assets under management, and strong financial performance in the below video.

About Blackstone

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our businesses, with $512 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on twitter @Blackstone.