Photographer: Angus Mordant/Bloomberg Blackstone Inc. is reshuffling the leadership of a key real estate business as the private equity giant navigates one of the most challenging property markets in years. Frank Cohen, a nearly three-decade firm veteran, will cede leadership of Blackstone’s “Core+” real estate business to Wesley LePatner, the group’s global chief operating officer, according to Blackstone executives. Wesley LePatner LePatner’s promotion puts her in charge of a more than $140 billion business that focuses on long-term real estate bets on properties ranging from industrial warehouses to life-sciences buildings. The “Core+” strategy also includes Blackstone Real Estate Income Trust, the $69 billion vehicle aimed at wealthy individuals. It’s been a critical past few months for BREIT as Blackstone looks to stabilize flows and shore up investors’ confidence in that crown jewel. The personnel changes were part of long-term management planning, according to people familiar with the matter, who asked not to be identified citing private information. Cohen will remain chairman and chief executive officer of BREIT. For years, BREIT benefited from a retail boom, attracting wealthy investors who flocked to private markets in search of higher returns. Now, rising rates and a rockier real estate market have dimmed […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
