Blackstone bull raising new buyout fund despite horrid private equity markets. Investors skeptical: shares down 25% this year and 55% since public offering last June. Harvard M.B.A took first job at investment bank Donaldson, Lufkin & Jenrette 1975. Ran M&A department by 1982. "Tony" orchestrated sale of DLJ to Credit Suisse for $11.5 billion in 2000. Schwarzman's heir apparent.