Top Susan Collins Donor Rakes in Millions From Maine Workers

Blackstone CEO Stephen Schwarzman gave $2 million to Susan Collins’s super PAC. Since 2011, his firm has received an estimated $49 million in fees from Maine’s public employees.

Susan Collins visits a food bank on May 5, 2026 in Harrison, Maine. Photo by Graeme Sloan/Getty Images.

The largest individual donor to Republican Senator Susan Collins’s super PAC leads a firm that’s raked in tens of millions of dollars in fees from Maine’s retirement system.

As his firm profits off Maine’s public workers, private equity billionaire Stephen Schwarzman has, in turn, plowed millions into efforts to re-elect Collins and keep the Senate under Republican control.

Last year, Schwarzman donated $2 million to Pine Tree Results, the primary super PAC backing Collins’s reelection campaign. He’s also given $5 million this election cycle to the Senate Leadership Fund, a super PAC affiliated with GOP Senate leaders that’s planning to spend $42 million to boost Collins in Maine.

Schwarzman is the CEO of the Blackstone Group, which managed roughly $480 million for Maine’s retirement system last year, state records show.

Over the past 15 years, Blackstone has scored roughly $49 million in fees and expenses off the state of Maine’s investments, according to an estimate by Zeteo. This is an exceedingly conservative estimate, as it does not include the fees that alternative-investment firms like Blackstone typically charge on funds’ profits.