They were very closely related, but technically separate. BlackRock was initially founded as “Blackstone Financial Management”, a company that “The Blackstone Group” had a 50% stake in. They changed their name to BlackRock after Stephen A. Schwarzman, Blackstone’s CEO, sold his stake in the then-smaller company.
They were very closely related, but technically separate. BlackRock was initially founded as “Blackstone Financial Management”, a company that “The Blackstone Group” had a 50% stake in. They changed their name to BlackRock after Stephen A. Schwarzman, Blackstone’s CEO, sold his stake in the then-smaller company.
It seems it’s intentional
I guess Blackman Group sures does sound weird in an american context.
You just know that some brand strategist was paid millions to come up with the name Blackrock as an offshoot of Blackstone.