Blackstone Hires Joe Dowling as Global Co-Head of Blackstone Alternative Asset Management (BAAM)
2021年1月12日 - 7:24AM
ビジネスワイヤ(英語)
Blackstone (NYSE:BX) today announced that Joe Dowling, the
former Chief Executive Officer of Brown University’s Investment
Office, has joined the firm as Global Co-Head of Blackstone
Alternative Asset Management (BAAM) alongside John McCormick. Joe
will oversee BAAM’s investment activities going forward, while John
will oversee BAAM’s business and investor functions.
BAAM invests in primarily liquid and semi-liquid investment
strategies for institutional and retail investors seeking
attractive risk-adjusted returns. BAAM manages $78 billion of AUM
and is the global market leader in allocating to hedge funds. It
has also diversified into newer businesses including special
situations, GP stakes, liquid alternatives, and equity capital
markets.
Stephen A. Schwarzman, Blackstone Chairman, CEO and Co-Founder,
said: “Joe’s experience in investing in hedge funds, public equity
(particularly in faster growing sectors), commodities and
currencies make him an excellent addition to our team. Our ability
to attract a world-class investor to co-head BAAM is a testament to
the strength of the platform and is wonderful news for our
investors.”
Jon Gray, Blackstone President & COO, said: “We are quite
excited to have attracted such a phenomenal investor to Blackstone.
Joe has a leading track record in allocating capital, investing
directly, and building tremendous teams. John has done an
exceptional job of growing the BAAM business with new platforms and
strong results. We believe that the combination of Joe and John
will enable us to expand into new areas and deliver even better
returns for our investors, while maintaining our focus on downside
risk, a hallmark of BAAM’s business.”
John McCormick, Blackstone Global Co-Head and Chief Investment
Officer of BAAM, said: “I am delighted to welcome Joe to BAAM. His
knowledge of hedge funds, experience managing multi-asset
allocations, and background in direct investing make him a perfect
fit as my partner. I am proud of the momentum in BAAM’s business
and am excited to see how Joe and I can deliver more for our
clients.”
Joe Dowling, Blackstone Global Co-Head and Chief Investment
Officer of BAAM, said: “Blackstone is the leader in the hedge fund
allocation space. The firm has a reputation for being innovative
and at the forefront of new investing opportunities. I look forward
to working alongside John and the talented team at BAAM.”
Prior to his appointment as Chief Executive Officer overseeing
Brown University’s endowment in 2018, Mr. Dowling served as the
University’s Chief Investment Officer since June 2013. Under his
leadership, Brown led the Ivy League’s and other peer institutions
in performance over 1,3, 5 and 7 years. Mr. Dowling also served as
interim Chief Financial Officer of the University from May 2019
until January 27, 2020, leading all finance and treasury functions
and cash and debt management. Before joining Brown, he was the
founder and chief executive officer of Narragansett Asset
Management, where he managed funds for institutions, pension funds
and endowments. Mr. Dowling has also worked for First Boston, Tudor
Investments and Oracle Partners. He has a bachelor’s degree and a
master’s in business administration from Harvard University.
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $584 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity, life sciences,
growth equity, opportunistic, non-investment grade credit, real
assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone.
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version on businesswire.com: https://www.businesswire.com/news/home/20210111006056/en/
Paula Chirhart +1-347-463-5453 paula.chirhart@blackstone.com
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