Blackstone Group LP (BX), the world’s largest private-equity firm, will donate $3.63 million to start a project with universities in North Carolina to spur job growth around Research Triangle Park.
The Blackstone Charitable Foundation will fund the five- year program aimed at helping the area better compete with high- technology hubs in Silicon Valley and Boston, the New York-based company said today in a release. The Blackstone Entrepreneurs Network will work with Duke University, North Carolina Central University, North Carolina State University and the University of North Carolina at Chapel Hill.
Blackstone Chairman Stephen Schwarzman in 2009 changed the focus of the then two-year-old foundation to job creation, in the wake of the global financial crisis that triggered an increase in unemployment. North Carolina had a jobless rate of 9.7 percent in March, almost a full point higher than the 8.8 percent national rate, according to the state’s Employment Security Commission. Read the rest of this entry »



