Dorrell Turns Blackstone ‘Poor Timing’ Into a $9 Billion Fortune

Infrastructure investing in the US was starting to boom in 2007 and Mike Dorrell was looking to capitalize on his expertise.

Dorrell, a managing director for Australian bank Macquarie Group Ltd., and colleague Trent Vichie went to Blackstone Inc. and successfully pitched the alternative-investment giant on building out an in-house business buying assets like pipelines, cell phone towers and toll roads.

Mike Dorrell

Source: Stonepeak

But by the time they joined Blackstone in 2008, the market had cratered. After three years of struggling to raise money they left to start Stonepeak Partners.

“We all were the victims collectively of poor timing,” ...