$500 billion is not enough. Blackstone aims for assets of $1 trillion by 2026.
Blackstone Group LP is planning to build its insurance business into a powerhouse as it casts about for new sources of cash in a bid to build a trillion-dollar stockpile of assets.
Blackstone, which already manages around $50 billion of fixed-annuity and other insurance assets, has told investors it aims to more than double that over time. The business has the potential to one day become the private-equity firm’s largest, Blackstone Executive Vice Chairman Tony James told investors in September.
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