BLACKSTONE GROUP INC
BX
Financials
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
SEC imposed a $12M penalty (January 2025) across three Blackstone entities for off-channel communications recordkeeping failures — employees used WhatsApp and personal devices for business communications including investment advice. Part of an industry-wide SEC sweep ($63M across 12 firms). Separately, the Kentucky AG filed suit alleging Blackstone, KKR, Prisma, and PAAMCO breached fiduciary duties in managing state pension funds. A $227.5M settlement was announced across all defendants in January 2025, but Blackstone's individual share was not publicly disclosed, and a judge declined to approve the settlement in May 2025, ordering mediation instead. The case remains unresolved.
Research Sources
3 organizations
Related Exclusions
Wondering what we do invest in?
The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.