Blackstone Commits to Hiring 2,000 Refugees
Blackstone has committed to hiring 2,000 refugees across its global portfolio companies as well as its real estate properties by the end of 2025, Commercial Observer has learned. The endeavor includes hiring 1,500 refugees in the U.S.
By joining forces with Tent, a nonprofit network of companies committed to supporting refugees worldwide, Blackstone (BX)’s portfolio companies and real estate properties have hired nearly 500 refugees worldwide, in countries such as Afghanistan, Ukraine, El Salvador and Guatemala.
In order to hasten private support for bringing Afghani and Ukrainian refugees into the workforce, Blackstone also joined the Welcome.US CEO Council.
“At Blackstone, we believe diverse teams make stronger companies,” Stephen Schwarzman, chairman and chief executive officer of Blackstone, said in prepared remarks. “Our unique platform has already supported nearly 500 jobs for refugees globally, bringing valuable talent into our portfolio’s workforces. We are proud to announce this commitment and will work hand in hand with on-the-ground teams at our portfolio companies and properties.”
Through its Veterans Hiring Initiative, Blackstone has hired more than 100,000 U.S. veterans, veteran spouses and caregivers across its 250 portfolio companies and over 12,000 real estate assets. The firm looks to work with organizations that specialize in refugee resettlement to provide the tools and resources necessary to hire, promote and train these new employees.
“Blackstone’s advantage lies in our deeply integrated approach to building resilient companies and properties, and doing so at scale,” said Kathleen McCarthy, global co-head of Blackstone real estate and a Welcome.US CEO council member. “Today’s commitment to 2,000 refugee hires across our portfolio reflects tremendous focus on this effort from our team and allows our portfolio companies and real estate properties to welcome a powerful spectrum of backgrounds, identities and experiences.”
“The American business community is showing incredible leadership, and I am so proud of the companies standing up for refugees today,” said Hamdi Ulukaya, CEO of Chobani and founder of Tent. “These companies will benefit from welcoming these hardworking, loyal and resilient individuals – but my hope is that this is only the beginning. As refugee crises start to fade from the headlines, I hope that companies will recognize that hiring refugees is not only the right thing to do but also the smart thing to do.”
Blackstone’s refugee and veterans hiring initiatives are part of the firm’s Career Pathways program, “designed to foster economic mobility and support ongoing diversity efforts at Blackstone portfolio companies,” Blackstone said in a press release. The program aims “to work from the ground up to remove legacy barriers to hiring and increase employment opportunities and career mobility for people from diverse and historically underrepresented communities.”
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Emily Fu can be reached at efu@commercialobserver.com.
