Blackstone downplays Saudi relations on earnings call


Despite rising tensions between the U.S. and Saudi Arabia, Blackstone Group's chief executive Stephen Schwarzman isn't worried about not securing funds from the country.

The New York-based buyout firm is relying on Saudi Arabia to provide half the money for its planned $40 billion infrastructure fund. So far, Blackstone raised around $5 billion — half of which came from the country's main sovereign wealth fund (h/t Reuters).

Schwarzman was one of many big-name investors who pulled out of a planned…

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