Blackstone is hosting over 170 summer interns, an increase from 150 last year. Steve Schwarzman, the firm's founder, addressed them, emphasizing that a career in private equity demands adaptability in a constantly evolving landscape. His advice highlighted the industry's shift from relying on low-interest rates to focusing on operational changes for returns. Schwarzman aimed to provide insights into a career in finance, noting that it is open and accessible, leading to valuable connections and engaging experiences with high-quality professionals.
Schwarzman emphasized the importance of adaptability, stating that success in private equity requires embracing constant change and maintaining curiosity for new learning opportunities.
He described finance, particularly at Blackstone, as 'infinitely accessible' and a chance to engage with 'high-quality people' and 'fascinating stuff.'
The private equity landscape is changing; returns are shifting from low-interest strategies to operational transformations of companies.
Schwarzman's message to the interns highlighted that finance careers offer both challenges and rewarding experiences, fostering professional growth and meaningful connections.
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