New group will invest alongside external managers and be part of the firm’s Strategic Partners unit

Reporter, WSJ Pro

Blackstone Group is the latest private equity firm to launch an investment strategy that aims to produce positive social or environmental outcomes along with financial returns.

The New York firm has formed an impact investing unit that will be part of Blackstone Strategic Partners, its secondary investing group, according to a news release issued Monday.

Blackstone Group sets up impact investing arm

Chris Cumming

Blackstone Group

Goldman Sachs Group

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