Blackstone is expanding into VC and infrastructure
The Blackstone Group is working to launch both venture capital and infrastructure investing programs, according to comments made during Thursday's Q1 earnings call. No specifics were disclosed.
Venture capital: The veteran firm has long avoided real venture, even while some of its peers got involved in the dotcom days. But it has been doing some growth equity investing out of its Tactical Opportunities platform, and recently added early Facebook backer Jim Breyer to its board of directors.
Infrastructure: This is a fairly obvious move, particularly given President Trump's ask for the private sector to match a $200 billion federal outlay on infrastructure by a 5:1 ratio over 10 years.