Blackstone plans to hire 50,000 US veterans for portfolio companies


us armyGlobal alternative assets giant Blackstone plans to hire 50,000 US veterans across its portfolio companies over the next five years.

The firm said it planned to introduce support structures including a management trainee programme to help veterans make the jump to a new career in the private sector.

Blackstone said the Joining Forces scheme was a national initiative in partnership with the White House to support veterans and military families.

Steve Schwarzman, Blackstone CEO and co-founder, said, “Veterans embody many of the skills, talents and personal attributes we look for in employees.

“They have high integrity; they are collaborative, hardworking and they are able to adapt to dynamic situations.

“Veterans are reliable, motivated and trustworthy employees – the type of people that will help Blackstone’s portfolio companies succeed and grow.

“We are proud to partner with the President and Mrs Obama, Vice President and Dr Biden to do our part to help the men and women who have served our country develop successful careers following their military service.”

He added, “Training and mentoring can help cultivate skills and ease the transition to civilian life.

“We want to help veterans build life-sustaining careers after their service to this country has ended.”

Blackstone’s portfolio companies currently employ more than 730,000 people across the globe.

The firm has about $218bn of assets under management, including $52bn in private equity.

Copyright ©2013 AltAssets