(Bloomberg) -- More money has flowed into the private equity industry amid the Covid-19 pandemic and Federal Reserve stimulus efforts, Blackstone Inc. co-founder Steve Schwarzman said.

“When the government prints enormous amounts of money, it has to go someplace,” Schwarzman said at the Goldman Sachs U.S. Financial Services Conference on Wednesday. “It’s coming to our alternative assets area generally, and, for our firm, we’re increasing share everywhere.”

Private markets investing has gotten “much more popular” recently, he added.

Blackstone has $731 billion in assets and is the world’s largest alternative asset manager.

 

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