Blackstone’s Jon Gray reveals ‘defining theme for the next decade’

Jon Gray, the billionaire president and chief operating officer of Blackstone, says the concentric circles at the heart of the private capital giant’s strategy are suddenly lining up.

While a series of megatrends has driven the firm’s assets under management past the magical $US1 trillion ($1.9 trillion) mark, three stand out: demand for data centres amid an explosion in digitisation; the increasingly urgent global energy transition; and a boom in private credit due to changing bank regulations.