Blackstone appoints new co-chief investment officers

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Blackstone appoints new co-chief investment officers
Credit: © Reuters.

NEW YORK - Blackstone (NYSE: NYSE: BX ), the world's largest alternative asset manager, has announced the promotion of Ken Caplan and Lionel Assant to the positions of Global Co-Chief Investment Officers (CIOs), a move reflecting the firm's growth and diversified investment strategies. In addition, Nadeem Meghji has been named Global Co-Head of Blackstone Real Estate.

These executive changes come at a time when Blackstone has exceeded $1 trillion in Assets Under Management (AUM), positioning itself for what is anticipated to be a period of significant investment activity, with over $200 billion of available capital, often referred to as "dry powder."

Caplan, who joined Blackstone in 1997 and has served in various leadership roles within the firm's real estate division, will now oversee investment processes primarily across Real Estate and Credit & Insurance (BXCI). Assant, with the firm since 2003 and the leader of Blackstone's European Private Equity business, will maintain his role while also enhancing firm-level investment oversight across Private Equity (PE) sectors, including Corporate PE, Infrastructure, Tactical Opportunities, Growth, and Life Sciences.

Meghji, who has been with Blackstone Real Estate since 2008 and led the Real Estate business in the Americas, will step into Caplan's former role, managing a portfolio with over $200 billion of AUM and total asset value of approximately $400 billion. He will partner with Kathleen McCarthy, the current Global Co-Head of Real Estate.

Additionally, Blackstone announced the promotion of Gio Cutaia to Global Chief Operating Officer of Real Estate, where he will manage over 12,000 assets in the firm's real estate portfolio.

Steve Schwarzman, Co-Founder, Chairman, and CEO of Blackstone, praised the long-tenured investors for their track records and investment expertise, which he believes are crucial for the firm's future endeavors. Jon Gray, President & COO of Blackstone, echoed these sentiments, highlighting the importance of these promotions in enhancing the firm's disciplined investment process.

Blackstone's CIOs will continue to report to their respective business units, ensuring a cohesive investment strategy across the firm's diverse portfolio, which includes private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, and other sectors.

The information in this article is based on a press release statement.

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