As the world’s largest private equity firm plans to double assets under management over the next five years, it also wants individual investors to get a greater slice of the action.
About 15 percent to 20 percent of Blackstone Group LP’s annual fundraising currently comes from retail investors, Joan Solotar, head of private wealth solutions at the firm, said in an interview Tuesday with Bloomberg Television’s Erik Schatzker. That proportion, she said, will rise in the next five to 10 years.
“There’s no reason that ultimately it won’t account for half the assets we manage,” Solotar said. Pressed for a timeline, she said, “I’m going to give myself a little more than five years. Let’s say 10.”