Blackstone completes conversion to corporation

Blackstone has completed its previously announced conversion to a corporation from a publicly traded partnership.

Stephen Schwarzman, Blackstone chairman, CEO and co-founder, said, “Our conversion to a corporation is an exciting next step for Blackstone, which we believe will make it much easier for both domestic and international investors to own our stock. We’re pleased that many more shareholders can now join us as we’re poised for continued growth and innovation in the years ahead. We’ve been encouraged by the strongly positive feedback we’ve received since the announcement and believe the conversion will unlock significant value for our shareholders over time.”