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Blackstone co-founder dies

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The co-founder of private equity firm Blackstone Group LP died yesterday of natural causes. Peter Peterson was 91.

"As a first-generation American born in Kearney, Nebraska, Pete exceeded all of his expectations in becoming a successful businessman, statesman and philanthropist," the Peterson family said in a statement.

In 1985, Peterson founded Blackstone with Stephen Schwarzman. The initial investment for the firm was $200,000. It now manages more than $400 billion in assets.

Read more from Reuters.

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