Blackstone is far ahead of its publicly traded rivals when it comes to assets. Photo: Michael Nagle/Bloomberg News Private-equity giant Blackstone became the first among its peers to reach $1 trillion in assets under management.

KKR KKR -0.34% & Co. is promoting a pair of executives to a new role overseeing the firm’s $165 billion private-equity business in a push to improve coordination and communication across regions. Pete Stavros and Nate Taylor, who have been serving as co-heads of the firm’s private-equity business in the Americas, will become global co-heads, KKR executives said. In their new roles, they will add responsibility for the firm’s private-equity businesses in Europe and Asia. Continue reading your...

Carlyle Group Inc. CG -0.95% plans to name investment-banking veteran Harvey Schwartz its new chief executive, according to people familiar with the matter, as the private-equity firm’s founders seek a fresh start after a botched succession plan. Carlyle is expected to unveil on Monday the appointment of Mr. Schwartz, who most recently served as co-president of Goldman Sachs GS 0.13% Group Inc., the people said. He spent more than two decades at the bank, building and leading various...

A unit of Goldman Sachs Group Inc. is in talks to buy a stake in Permira, a large international private-equity firm, according to people familiar with the matter. In the deal being discussed, Petershill, an arm of Goldman Sachs that invests directly in alternative-investment firms, would pay €500 million, or about $560 million, for a minority stake in Permira, the people said. The potential deal would value the buyout firm at more than $5 billion, one of the people said. ...

BlackRock is set to supplant private-equity firm Leonard Green & Partners as Authentic Brands’ largest shareholder. Leonard Green and other shareholders, including private-equity firms General Atlantic and Lion Capital LLP, will remain invested but will sell down their stakes to make room for BlackRock. Authentic Brands’ management, led by Chief Executive Jamie Salter, will also continue to own a significant stake. BlackRock, the world’s biggest money manager, has been trying to diversify...