Blackstone has appointed Joseph Cassanelli, former co-head of Lazard’s US monetary establishments group, as senior managing director of its tactical alternatives (Tac Opps) technique.
He will likely be primarily based in New York and function an funding skilled throughout the hybrid capital options platform, centered on the monetary providers sector.
Cassanelli spent greater than 20 years at Lazard, performing as a strategic adviser to a broad vary of worldwide monetary establishments.
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He has suggested on greater than half a trillion {dollars} of transactions, together with quite a few giant and most complicated mergers, acquisitions, and strategic restructuring transactions in monetary providers. This included Blackstone’s IPO and C-Corp conversion, in addition to offers for Tac Opps and insurance-related transactions for Blackstone Credit score & Insurance coverage.
“Joe’s deep experience and relationships within the monetary providers sector make him a really perfect addition to Tac Opps – as we proceed to hunt to ship differentiated efficiency for our buyers,” stated Chris James, international head of Tac Opps.
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“We consider our scale and versatile capital are notably properly fitted to at the moment’s market atmosphere, and look ahead to working with Joe to proceed serving as a trusted capital options supplier to companies in monetary providers and past.”
Cassanelli added: “I’m thrilled to hitch Blackstone Tactical Alternatives, which has constructed a well-deserved popularity for creativity and innovation as a pioneer in hybrid capital with distinctive funding professionals. I look ahead to offering bespoke capital options in partnership with excellent administration groups and corporations throughout the monetary providers sector.”
Blackstone launched its tactical alternatives platform in 2012 to spend money on personal funding alternatives outdoors of conventional personal fairness and personal credit score.
It now has $34bn (£25bn) of property beneath administration.
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