April 16, 2015

Amid Major G.E. Acquisition Deal, Blackstone's Schwarzman Focused on Chinese Scholarships

The New York Times profiles Blackstone Group chief executive Stephen Schwarzman who started a fellowship program for Chinese students modeled on the Rhodes Scholarships. 

Applications for the yearlong Schwarzman Scholars program at Tsinghua University became available Wednesday morning, in the wake of a major real-estate acquisition deal for the financial firm.

Mr. Schwarzman's $100-million gift to start create the program led to his 23rd place ranking on The Chronicle's 2014 list of America's most generous donors. According to the Times article, he has raised $333-million for the program and plans to raise his fundraising target to $400-million.