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Blackstone to increase London operations despite Brexit turmoil, CEO says

Blackstone Group Inc. plans to expand its operations in London despite the political agitation surrounding Brexit, Private Equity News reported, citing an exclusive interview with the private equity firm's CEO and co-founder, Stephen Schwarzman.

The executive reportedly said his firm is looking to increase its U.K. workforce by up to 10% over the next 12 months. The firm's European arm employs more than 400 people and is headquartered in Mayfair's Berkeley Square in London.

"Brexit doesn't affect our European operations in any substantial way," the news outlet quoted Schwarzman as saying.

Blackstone has made significant investments in the U.K. over the past 13 months, including the planned acquisition of Merlin Entertainments PLC for £5.91 billion with Lego System A/S and Canada Pension Plan Investment Board, as well as its takeover of Network Rail's commercial estate portfolio for £1.46 billion in partnership with Telereal Trillium Ltd.