Filed under: Private equity, Lehman Br Holdings (LEH), Blackstone Group L.P (BX)

When talking about Blackstone (NYSE: BX), people usually refer to Stephen Schwarzman. However, there is actually a cofounder of the firm; that is, Peter Peterson.

Although, he’s not a pure finance junkie. Some of his prior gigs include: Chairman of the Federal Reserve Bank of New York, the CEO of Lehman Brothers (NYSE: LEH), the CEO of Bell and Howell, and even the Secretary of Commerce (under President Richard Nixon).

And, of course, he’s a very wealthy man. He cashed out $1.8 billion from the Blackstone IPO.

OK, so what’s next? Well, he has formed the Peter G. Peterson Foundation. Basically, he wants to create a platform to deal with major issues, such as Social Security, budget deficits, education, energy, the environment, and the spread of nuclear weapons.

If anything, the foundation won’t lack for resources. After all, Peterson has pumped a cool $1 billion into it. Apparently, he’s prepared to pump more money into it.

Continue reading Blackstone cofounder wants to save the world

Permalink | Email this | Comments

Share This

This entry was posted on Sunday, February 17th, 2008 at 11:16 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.