Blackstone (NYSE: BX) has announced strategic leadership changes, with Ken Caplan, the current Global Co-Head of Real Estate, and Lionel Assant, European Head of Private Equity, elevated to the newly created roles of Global Co-Chief Investment Officers (CIOs). This move aims to fortify the coordination and oversight of the firm’s robust investment process. Nadeem Meghji, currently the Head of Real Estate Americas, is set to succeed Mr. Caplan as Global Co-Head of Real Estate, alongside the existing Global Co-Head, Kathleen McCarthy.
These promotions underline the expanding breadth of the firm’s investment strategies and sustained growth, recently surpassing $1 trillion in Assets Under Management (AUM). Collectively, the three executives bring over 60 years of Blackstone investing experience to navigate an anticipated highly active deployment period, armed with over $200 billion of dry powder.
Steve Schwarzman, Co-Founder, Chairman, and CEO of Blackstone, expressed delight in elevating these seasoned investors, emphasizing their strong track records, institutional knowledge, and exceptional investment acumen.
Jon Gray, President & COO of Blackstone, added, “The promotion of these highly talented executives will help the firm better identify compelling global investment themes while also enhancing our disciplined investment process.”
Mr. Assant, who joined Blackstone in 2003, will continue to lead the European Private Equity business and, as Co-CIO of Blackstone, collaborate with business unit CIOs and Group Heads for firm-level investment oversight across Private Equity.
Mr. Caplan, with a tenure since 1997, will function as Co-CIO, providing additional firm-level investment oversight primarily across Real Estate and Credit & Insurance (BXCI).
The firm also announced the promotion of Gio Cutaia to the position of Global Chief Operating Officer of Real Estate, further solidifying Blackstone’s leadership team.
CIOs across Blackstone will maintain reporting lines into their respective business units.
About Blackstone: Blackstone, the world’s largest alternative asset manager, seeks to create positive economic impact and long-term value through extraordinary people and flexible capital. Their $1 trillion in assets under management spans private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds globally.
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By Ravi Kumar