Blackstone, the world’s largest alternative asset managers, is planning to invest up to $500bn in Europe over the next ten years, according to a report by Reuters citing comments made by CEO Steve Schwarzman in a Bloomberg TV interview on Tuesday.
The announcement signals a significant expansion of the firm’s European footprint and reflects growing private equity optimism about the region’s long-term growth prospects.
“Europe represents a major opportunity,” Schwarzman said, noting that the region’s evolving economic and geopolitical landscape is creating favourable conditions for long-term capital deployment. Blackstone currently manages over $1tn in assets globally.
The firm’s renewed focus on Europe comes as the region adapts to shifting global dynamics, including trade realignments and increased government spending in sectors such as defence and infrastructure. In particular, the European Union has recently ramped up its defence budget, with Germany approving a landmark military expenditure package earlier this year — areas that have traditionally seen limited participation from private capital.
According to data from S&P, the US and Canada have historically dominated private equity and VC-backed aerospace and defence investments, capturing 83% since 2020. However, Schwarzman sees Europe beginning to close the gap. “Europe is starting to change its approach, which we think will result in higher growth rates. So this has worked out amazingly well for us,” he told Bloomberg.
Blackstone has already deployed around $100bn in the UK and currently employs 650 staff in its London office, making it one of the firm’s key international hubs.
