The head of Blackstone Investment Management, an investment firm that has invested in companies that are struggling to fill high-paying jobs, has made a big investment in the private equity group.
Blackstone announced the announcement on Monday in a filing with the Securities and Exchange Commission.
It was the first time the Blackstone Group has made an announcement about a private equity investment in a publicly traded company.
The new investment comes amid a wave of job losses and a sharp drop in the stock market.
The stock market has lost more than 30 percent since the end of January.
The Blackstone investment, announced by the company on Monday, was part of a larger $2 billion Blackstone Fund, a private investment vehicle with a $2.4 billion endowment.
The investment in Blackstone comes at a time when the White House is focusing on the economy.
The White House has called for more jobs in the United States.
On Monday, President Donald Trump announced that he was looking to hire 5,000 new jobs for the rest of the year, the first increase in hiring in almost a decade.
Blackstones investment comes after a similar investment in private-equity group, Renaissance Technologies, in January.