Blackstone Names New Co-CIOs, Co-Head of Real Estate

Blackstone announced that Ken Caplan, current global co-head of real estate, and Lionel Assant, European head of private equity, have been promoted to newly created roles as global co-CIOs.

Nadeem Meghji, head of real estate Americas, will succeed Caplan and work alongside current global co-head, Kathleen McCarthy.

The three executives bring more than six decades of experience to what is projected to be an exceptionally active period of investment , with the firm recently topping $1 trillion in assets under management and more than $200 billion in dry powder.

“We are delighted to elevate three of our longest-tenured investors into these critical positions, as the firm readies itself for an active investment period. They bring strong track records of delivering for our customers, considerable institutional knowledge, and exceptional investment acumen to these new roles,” said Steve Schwarzman, co-founder, chairman and CEO of Blackstone.

Caplan joined Blackstone in 1997, oversaw the firm’s European real estate business from 2012 to 2015, was real estate CIO from 2015 to 2017, and has co-headed the firm’s global real estate division with McCarthy since 2018.

Assant joined Blackstone in 2003 and has run the firm’s European private equity business since 2012.

As co-CIOs, Caplan and Assant will work with business unit CIOs and group heads to provide additional firm-level investment oversight. CIOs across Blackstone will continue to report into their respective business units.

Meghji joined in 2008 and has been in charge of the Americas real estate business since 2017. He has contributed to the expansion of Blackstone’s Opportunistic (BREP), institutional and private wealth Core+ (BPP & BREIT) real estate businesses in the United States and Canada.

The firm also announced the promotion of Gio Cutaia to global COO of real estate.