Mondays at Blackstone

in many ways Mondays at Blackstone Drive the firm success every week members of each business gather to talk about potential investments current investments and what we're hearing and seeing around the world we use the Monday morning meetings as an opportunity to review and debate the most active deals in our pipeline and kind of benefit from the collective wisdom and experience of the group nobody's going to be an advocate for you in fact our process is one of trying to understand all the things that can go wrong and all the reasons why this isn't an intelligent thing to do so you have to be pretty convincing this thing has really high embedded growth so it's a little right like that's what but you read yields and general really low so you get the growth but reels go up you're kind of treading water yeah when I think about our limited partners and what they're entrusting us to do I think if they sat in those rooms on a Monday morning they'd feel very good about the way their capital is being treated it is a network opportunity network in the sense that you hear something you know somebody who can help and you immediately put those things together if you believe fundamentally that the hole is better than the sum of the parts then you have to do things like this I think the Monday meetings are really the bedrock of our investment process doesn't matter for transactions originated in Dalian China Dusseldorf Germany or Dallas Texas it comes back to the same room Monday morning and it's scrutinized by the same people and the same rigor no matter where it comes from we live in a very global economy and so the perspectives that we have on the US economy have very wide-ranging impacts across the world and in our investing business for example we leverage that intellectual capital to make better decisions and mitigate risks the television screens have the London office the Mumbai office the Hong Kong office it's a wonderful experience Chris sir Ellen if you want to start with Asia the warehouse platform were moving towards closing we've got another five pipeline project this coming week okay Anthony and Europe James the Milan office buildings that is going to close in May following completion of the preemption rights period we should be signing documents for the majority unit holder either this week or next week for us it's important to understand what our colleagues overseas are doing we can then compare and contrast based on what we're doing here and everyone having an understanding and the information flow being positive is is only going to benefit our group it's knowing what's going to happen before it happens by taking insights from one of our business areas and applying them across the board developing the next generation is the most important thing we do regardless of age function or title you're expected in fact encouraged to add your point of view and speak up because of that collective approach we generate higher values for our clients and minimize risk relative to you know where our model was originally priced you probably would have a one times earnings it of the order of ten million dollars I've learned that it's really helpful to be with nice people and I think that's really an essential part of building a great business you have to form a great culture the first person I met a black stone was warm and interesting and engaging I remember calling my husband and telling him I'm not certain I want this job but I want to work with these people we're not in this for a quick hit we want to build great companies we want to build great real estate assets we want to build lasting value we practice the art of the long view by not thinking that value can be created in days or weeks or months we think in terms of years the firm's going to be 30 years old this year and we're still learning we keep driving for excellence and if you have that as an objective and you have really capable people and great processes and openness you can actually get really close to achieving what you want but you have to keep pushing you have to keep innovating to get there you

Channel: Blackstone

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Length: 4min 51sec (291 seconds)

Published: Thu May 07 2015