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Latest News  + Alternative Assets  |  November 7, 2024
$37B Blackstone Tac Opps Unit Has New Leader
By: Joe Palmisano

$37B Blackstone Tac Opps Unit Has New Leader  

Blackstone announced several promotions within its Blackstone Tactical Opportunities division, appointing Chris James as global head of Tactical Opportunities, succeeding David Blitzer, who will assume the role of chairman at year-end. 

James is a founding member and current COO of the $37 billion unit. Additionally, two other promotions were announced: Jas Khaira as head of Tactical Opportunities Americas and Qasim Abbas as head of Tactical Opportunities International. 

James has been instrumental in launching several new businesses at Blackstone including its insurance platform, growth investing platform, and private equity strategy for individual investors. Prior to Tactical Opportunities, he had been involved in the execution of Blackstone strategic initiatives, including the firm’s IPO, and its investments in GSO (now Blackstone Credit and Insurance) and Strategic Partners.  

Abbas currently leads Tac Opps’ European business and joined Blackstone in 2012. Khaira has been at Blackstone for two decades and leads Tac Opps digital infrastructure investments. Both Abbas and Khaira are founding members of Tac Opps. 

The Tactical Opportunities platform was launched in 2012 — a strategy the firm pioneered — to invest across private investment opportunities outside of traditional private equity and private credit. 

“Tac Opps is thriving in the current environment, and we are confident CJ, Jas, and Qasim will continue its strong momentum,” said Steve Schwarzman, co-founder, chairman, and CEO, and Jon Gray, president & COO of Blackstone. “We are also quite pleased that David – who has done a world-class job building the Tac Opps franchise from scratch – will continue as chairman of the business.” 

The leadership moves follow the record close of Blackstone Tactical Opportunities Fund IV. Including other single-investor vehicles pursuing the same strategy, the combined BTO IV platform is currently expected to have nearly $10 billion of new capital in its fourth fundraising vintage that is substantially higher than the BTO III platform and the largest-ever vintage of its kind. 

Recent investments in BTO IV include CoreWeave, a specialized provider of critical cloud infrastructure pioneering the AI revolution, and the music royalty platform Hipgnosis. 

Pictured: Chris James 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.