As part of an initiative by Tent Partnership for Refugees, Blackstone Inc. will join other businesses, including 44 major U.S. companies, in the hiring of more than 22,000 refugees over the next three years.
Blackstone has committed to hiring 2,000 refugees by 2025 across its global portfolio companies and real estate properties.
To date, Blackstone's portfolio companies have hired 500 refugees, including from countries such as Afghanistan, Ukraine, El Salvador and Guatemala.
"At Blackstone, we believe diverse teams make stronger companies," said Stephen A. Schwarzman, chairman, CEO and co-founder, in a news release. "Our unique platform has already supported nearly 500 jobs for refugees globally, bringing valuable talent into our portfolio's workforces."
Other financial institutions that are members of Tent include Goldman Sachs Group Inc., J.P. Morgan Chase & Co. and Pacific Investment Management Co.
Tent was started in 2016 by Chobani LLC founder Hamdi Ulukaya as an initiative to bring more job opportunities to refugees as they settle into life in the United States and elsewhere.
"We as an organization have been working for six years now, initially in response to the Syrian refugee crisis," said Yaron Schwartz, associate director for global partnerships at Tent, in an interview. "But our work in the United States over the past year has very much been affected by the Afghan and Ukrainian refugee crises, and as well as refugees are often coming to us from Venezuela and Cuba, Africa and all over the world."
Blackstone also announced that it has joined the Welcome.US CEO Council, which uses private sector resources to encourage the hiring of more refugees in the U.S by offering them jobs, mentorship opportunities and access to goods and services.
Blackstone, which has $941 billion in assets under management, said in the release that its commitment includes 1,500 refugees in the United States. In total, Blackstone has more than 250 portfolio companies, such as Ancestry.com and Bumble, and 12,000 real estate assets.
The company's initiative to hire more refugees is also part of its broader goal to support diverse hiring at portfolio companies through its Career Pathways program that has aided in the hiring of 100,000 U.S. military veterans, their spouses and caregivers, according to Blackstone.
