Deals
Blackstone's Property Arm Gets Two Heads With Gray Moving Up
- Gray Says Caplan, McCarthy are ‘natural heirs’ to the business
- Firm’s real estate spans the globe and all property types
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There are two new sheriffs in town at the helm of one of the world’s largest property investors.
Blackstone Group LP named Ken Caplan and Kathleen McCarthy to lead the private equity giant’s real estate business as Jon Gray takes on the role of president and chief operating officer. The real estate business Gray built, after joining Blackstone straight out of college, is the firm’s largest by assets and accounted for about half of its pretax profit last year.