(Photo: Blackstone's Facebook)

(Bloomberg) – Blackstone Group LP’s Steve Schwarzman was named co-chair of the Partnership for New York City, replacing Viacom Inc.’s Philippe Dauman.

Schwarzman, Blackstone’s chief executive officer, will start in the role next year and join Morgan Stanley CEO James Gorman as co-chair, according to a statement Friday. Gorman is in the first year of a two-year term.

The Partnership for New York City is a nonprofit composed of about 300 of the city’s CEOs. It oversees a fund that has raised $135 million and made 175 investments in local businesses and nonprofit projects, according to its website. The fund is run by Maria Gotsch, KKR & Co. co-CEO Henry Kravis, Warburg Pincus co-CEO Chip Kaye and Medidata Solutions Inc. CEO Tarek Sherif.

“I appreciate the importance of cooperation among business, government and the civic sector, who all must work together to attract and develop great talent, maintain the city’s competitiveness and keep this a city of opportunity for all,” Schwarzman said in the statement. He’s been a member of the group since 2001.

Bloomberg News parent Bloomberg LP is among about 200 of the organization’s partner companies.

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