Business · Companies · 1 hr ago
Stephen Schwarzman recalls the challenge of winning clients
Stephen Schwarzman recalls building Blackstone Group in a personal history published on October 14, 2026.
He says winning clients was difficult because companies already had long-standing relationships.
The account also notes that Pete Peterson co-founded Blackstone with Schwarzman.
Peterson began working with Schwarzman at Lehman Brothers in 1973.
The account gives no further details about how the company overcame the challenge or what happened next.
Stephen Schwarzman said winning clients was difficult because companies had longstanding relationships.
Schwarzman’s account appears in Nikkei Asia’s “The founding: Stephen Schwarzman (13).”
Pete Peterson, Blackstone Group’s co-founder, began working with Schwarzman at Lehman Brothers in 1973.
Nikkei Asia published the article on October 14, 2026.
- Who
- Stephen Schwarzman recalled the difficulty of winning clients.
- What
- He said companies were tied to longstanding relationships.
- When
- The article was published on October 14, 2026. Peterson began working with Schwarzman in 1973.
- Where
- Schwarzman and Peterson worked together at Lehman Brothers.
- Why
- Companies were tied to longstanding relationships.
This story does not have two clearly opposing sides.
Pete Peterson began working with Schwarzman at Lehman Brothers.
Nikkei Asia published Schwarzman’s account.
- Speaker
- Stephen Schwarzman
- Business
- Blackstone Group
- Colleague
- Pete Peterson
- Workplace
- Lehman Brothers
- Year they began working together
- 1973
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What people are saying
Winning clients was difficult because companies were tied to longstanding relationships