# Blackstone The world's largest alternative asset manager, founded in 1985 by [[Stephen Schwarzman]] and Peter G. Peterson, with over $1.1 trillion in assets. Like [[Apollo Global Management]], its KB relevance runs through the convergence of **private-credit-financed AI infrastructure** and **Republican political money** — both anchored in Schwarzman, a lifelong Trump friend who chaired Trump's first-term Strategic and Policy Forum. ## AI-Infrastructure Finance Blackstone co-arranged (with [[Apollo Global Management]]) the **$35–36 billion private-credit chip financing for [[Anthropic]]** in June 2026 — funding [[Google]] TPU purchases, backed by Broadcom, among the largest chip-financing debt transactions on record. See [[Apollo-Blackstone Anthropic Chip Financing]]. Blackstone also committed to Anthropic's enterprise joint venture announced May 2026 ($300M alongside Anthropic and Hellman & Friedman). The firm's AI push extends into the physical layer: Blackstone has moved to acquire **PNM**, the utility serving more than 65% of New Mexico households, in a play critics frame as making ratepayers underwrite the energy demands of AI data centers — a recurring pattern the KB tracks where AI-infrastructure costs are socialized onto captive utility customers. ## Schwarzman's Political Money [[Stephen Schwarzman]] gave **$5 million to [[MAGA Inc.]]** in the second half of 2025 (see [[Schwarzman 5M to Senate Leadership Fund]] for his SLF giving), part of a $102M Trump super-PAC haul that also drew [[Greg Brockman]]. He is among the most senior Wall Street figures in Trump's orbit, and his giving makes Blackstone a node in the same donor network as Apollo, Citadel, and Elliott. ## The Pine Tree Results PAC Connection (Maine 2026) Schwarzman is a funder of **Pine Tree Results PAC**, the super PAC supporting [[Susan Collins]] against [[Graham Platner]] in the [[ME-Sen-2026]] race, alongside [[Marc Rowan]], [[Paul Singer]], and [[Alex Karp]]. See [[Pine Tree Results PAC]]. The Blackstone–Apollo pairing thus recurs twice in the same week's KB record: as co-arrangers of the Anthropic chip debt, and as co-funders of the Maine Senate firewall. ## See Also - [[Stephen Schwarzman]] - [[Apollo Global Management]] - [[Apollo-Blackstone Anthropic Chip Financing]] - [[Anthropic]] - [[Pine Tree Results PAC]] - [[ME-Sen-2026]] - [[Schwarzman 5M to Senate Leadership Fund]]