It has been 40 years since the establishment of Blackstone. How was the experience?
Stephen Schwarzman: There are a lot of key education and it has been 40 years, but it looks like 10 or 12. Everything is telescope in terms of time when you focus full. In terms of learned lessons, one is to hire great people, which always makes a huge difference.
Second, what you are trying to make as a business and what we are trying to do is very clear is that what we choose to do is to be the best in the world. We tell our people that Blackstone is not a business. It’s a mission to be the best in the world. And so, when we get short, it’s easy to know and then we change things.
We have learned that you never want to lose money for any customer. I know it may seem easy, but there is a way to go about how we analyze potential investments to make sure it doesn’t happen.
The fourth thing is that you need a lot of information to be ahead of others when we look at the trends and we have created Pay FIRMI in one way so that we can do all our business lines with meetings on Monday morning so that we can develop the patterns almost the world so that we can make a report in the economy. If you can do it and you don’t like to sleep, you can make something special.
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20 years of travel to India and you are the country and really the world’s largest commercial homeowner. What is next to India and the region for Blackstone?
Stephen Schwarzman: Well, we are not only in real estate, we are also in the company -owned business and at Blackstone with all, we are one of the 10 largest businesses in India and we are the largest private equity business and the largest foreign investor in the country. So, for us, there is still more expansion.
We will bring in other activities not only to real estate and private equity, but also to India. We will also expand our current businesses at a very impressive rate and we hope that at some point in the future, our businesses will be worth $ 100 billion here. We think that is a real purpose. This is the country that continues to grow. The people here do not know how special it is. Mature companies in the West increase by half a percent, 1%. If they make it in two, they believe that they have done something special. Here, 6.5% growth is normal and people go. Well, I remember when it was 9%.
Therefore, India has found some special features. It has a very small population. He has met people who like to do new things. He has found many ENERGY Raza here. It has found an excellent government, more and more sensitive to what they are doing to attract businesses and to increase their own businesses to continue to grow. We really feel horrible about India. It is our best investment market in the world and we work with almost everyone. Therefore, you get the award for being really special.
And what is your investment strategy for India in private equity, real estate? What will it be next?
Stephen Schwarzman: We are in touch with trends around the world. Therefore, in India with our companies, we are looking in the technical field and technology is a widely widespread category. For example, we are very large in IT services. We are also the world’s largest pay firm in data centers, both developed data centers and have data centers and this is the beginning for India in that area. We are aggressively working in that field for the figure that we can expand here and bring skills around the world to develop that area because it is a matter of time before India is really more involved with artificial intelligence and it is the kind of world in which we live in Blackstone.
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We also do things in the field of healthcare that are very important. We have the second largest healthcare group in India. We will expand it.
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