From Nikkei Asia · · 40s
Schwarzman: Blackstone's 1989 Edgcomb Failure
Schwarzman recalls Blackstone's disastrous 1989 Edgcomb acquisition as a pivotal lesson in his 40-year career.
In brief
Schwarzman recalls Blackstone's disastrous 1989 Edgcomb acquisition as a pivotal lesson in his 40-year career. Schwarzman reflects on Blackstone's failed 1989 Edgcomb acquisition as a key moment in his 40-year business journey. Originally reported by Nikkei Asia.
Schwarzman's 1989 Edgcomb failure
Schwarzman kept a plaque on his desk as a reminder of Blackstone's disastrous 1989 acquisition of Edgcomb.
Humiliating loss forces rethink
More than 40 years have passed since Schwarzman founded Blackstone in 1985, with three episodes remaining with him.
Blackstone's investment process lesson
Schwarzman describes the 1989 Edgcomb acquisition as a key moment that forced him to rethink Blackstone's investment process.
The key point
Schwarzman reflects on Blackstone's failed 1989 Edgcomb acquisition as a key moment in his 40-year business journey.
