Co-founder of world's largest private equity firm dies at 91
Billionaire Peter Peterson, who co-founded world's largest private equity firm Blackstone Group, died of natural causes on Tuesday aged 91. The son of Greek immigrants, Peterson served as the commerce secretary under US President Richard Nixon. Founded with an initial investment of $200,000 in 1985 by Peterson and Stephen Schwarzman, Blackstone now manages more than $430 billion in assets.