Blackstone Group LP Chief Executive Stephen Schwarzman took home at least $800 million in 2017, one of the largest paydays ever at a publicly traded company and the latest affirmation of Wall Street’s postcrisis rebound.
The haul, detailed Thursday in a regulatory filing, underscores the ascendancy of firms that manage private investment funds for institutions and the wealthy. Blackstone , BX -0.66%which collects fees for managing clients’ money and keeps a slice of investment gains, has benefited lately from robust markets for stocks, debt and real estate as well as banks’ retreat from businesses such as specialty lending, into which Blackstone has expanded.