Various asset supervisor Blackstone introduced three appointments and the creation of two new positions.
Blackstone veteran Farhad Karim will step into the newly created position of international chief working officer of Blackstone’s non-public wealth options enterprise. As well as, Chris Sullivan is changing into head of sponsor protection, one other new job operate. The agency additionally introduced that Adam Lane will be a part of the agency as head of guide relations.
Blackstone’s PWS enterprise works with monetary advisors and features a suite of merchandise throughout actual property, credit score, non-public fairness and infrastructure. It manages greater than $250 billion throughout the non-public wealth channel globally. In his new position, Karim can be liable for overseeing the group’s day-to-day operations, together with continued product and regional enlargement.
“Farhad is a long-serving, confirmed Blackstone chief who performed a pivotal position in constructing and scaling our actual property enterprise, creating perpetual merchandise and rising our enterprise internationally,” Joan Solotar, Blackstone’s international head of PWS, stated in a press release. “He can be an amazing asset as we proceed to increase how we serve particular person traders world wide.”
“I couldn’t be extra excited to associate with Joan and the group as we proceed to scale the enterprise and assist advisors unlock entry to non-public markets for his or her shoppers,” Karim stated in a press release.
Karim joined Blackstone in 2011 and presently serves as chairman and COO of Blackstone Europe and basic counsel of Blackstone Actual Property. Previous to becoming a member of Blackstone, he was a associate on the legislation agency Simpson Thacher & Bartlett.
In the meantime, as head of sponsor protection, Sullivan will work with non-public fairness sponsors throughout debt and fairness methods. Sullivan has been with Blackstone since 2021, main non-public credit score sponsor relationships in Blackstone’s credit score and insurance coverage enterprise. Previous to Blackstone, he spent greater than 20 years at Barclays.
Lastly, Lane is becoming a member of Blackstone from Goldman Sachs Asset Administration. He’ll concentrate on cultivating enterprise-level relationships with consultants who work with institutional traders. He may even work with Blackstone’s non-public capital group. Lane spent greater than 20 years at Goldman Sachs, the place he most not too long ago served as associate and international head of wealth administration alternate options and co-head of U.S. third-party wealth.
