Blackstone has named David Levine and Giovanni Cutaia co-heads of its global real estate business, succeeding Nadeem Meghji, who plans to leave the alternative asset manager at the end of 2026. The leadership changes were disclosed in an internal memo reported by Bloomberg.
Levine currently serves as Head of Blackstone Real Estate Americas, while Cutaia is President of Blackstone Real Estate. The two veteran executives will jointly assume responsibility for one of the world’s largest real estate investment platforms.
Blackstone’s real estate business manages approximately $314 billion of investor capital and oversees a global real estate portfolio valued at roughly $608 billion. The platform includes more than 800 real estate professionals across 12 offices and invests across opportunistic, Core+ and real estate debt strategies.
Levine joined Blackstone in 2010 and is a member of the firm’s Real Estate Global Investment Committee. As head of Real Estate Americas, he has responsibility for the day-to-day management of the group’s investment activities and personnel across the region.
He previously served as Co-Head of Americas Acquisitions and has held leadership roles across Blackstone’s opportunistic and Core+ real estate investment strategies.
Cutaia joined Blackstone in 2014 and, as President of Blackstone Real Estate, oversees strategic, operational and client-facing activities across the global business.
Before joining Blackstone, he was a Senior Managing Director and Co-Head of Commercial Real Estate Investments Americas at Lone Star Funds. He previously spent more than 12 years at Goldman Sachs in its Real Estate Principal Investments Area, working from both New York and London.
The leadership transition follows Meghji’s nearly two decades at Blackstone. He joined the firm in 2008 and previously led its Americas real estate business before being elevated to Global Co-Head of Real Estate in 2024.
Meghji initially shared leadership of the business with Kathleen McCarthy and subsequently became sole Global Head of Real Estate following McCarthy’s departure.
During Meghji’s tenure, Blackstone continued building its real estate operations across North America, Europe and Asia while expanding investment strategies spanning equity, Core+ and real estate credit.
The transition places the business under two executives with complementary responsibilities. Levine brings extensive experience overseeing real estate investments and acquisitions, while Cutaia has held broad operational, asset management, strategic and client-facing leadership responsibilities.
Blackstone overall manages more than $1.3 trillion in assets, with businesses spanning real estate, private equity, credit and insurance, infrastructure, life sciences and other alternative investment strategies.
