Blackstone announced three appointments to key firmwide roles and the creation of two new functions to enhance client coverage and capital raising. And Blackstone veterans Farhad Karim and Chris Sullivan will step into new roles and the firm also welcomes Adam Lane.
Farhad Karim will become Global Chief Operating Officer of Private Wealth Solutions (PWS). And Blackstone’s PWS business offers financial advisors access to institutional-quality alternative investments for their clients, such as dedicated products across real estate, credit, private equity and infrastructure.
Blackstone launched this business over a decade ago and now manages an industry-leading $250 billion in assets across the private wealth channel.
The PWS team of nearly 300 professionals partner with financial advisors across the globe to help build wealth for their clients. As COO of PWS, Karim will be responsible for overseeing the group’s day-to-day operations, including continued product and regional expansion.
Karim joined Blackstone in 2011 and currently serves as Chairman and Chief Operating Officer of Blackstone Europe, as well as General Counsel of Blackstone Real Estate. Prior to joining Blackstone, he spent over a decade at the law firm Simpson Thacher & Bartlett, where he was a partner.
Chris Sullivan will become Head of Sponsor Coverage. In this role, he will better enable Blackstone to serve as a comprehensive, multi-asset class solution provider to private equity sponsors across debt and equity strategies. Mr. Sullivan has been with Blackstone since 2021, leading private credit sponsor relationships in Blackstone’s Credit & Insurance business. Before Blackstone, he spent more than 20 years at Barclays.
Adam Lane will join the firm as Head of Consultant Relations. Lane will focus on cultivating Blackstone’s enterprise-level relationships with the consultant community, who are key advisors to the firm’s institutional clients. And he will also play an important role assisting Blackstone’s Private Capital Group, given his extensive experience in this channel. Lane joins Blackstone following nearly two decades at Goldman Sachs Asset Management, where he most recently served as Partner, Global Head of Wealth Management Alternatives and Co-Head of U.S. Third Party Wealth.
KEY QUOTES:
“These appointments underscore the tremendous momentum at Blackstone in terms of accelerating who we serve and the breadth of solutions we offer. By elevating leaders like Farhad and Chris, and adding exceptional talent like Adam, we continue to build on this strength.”
- Jon Gray, President & COO
“Farhad is a long-serving, proven Blackstone leader who played a pivotal role in building and scaling our real estate business, creating perpetual products, and growing our business internationally. He will be a tremendous asset as we continue to expand how we serve individual investors around the world.”
- Joan Solotar, Global Head of Private Wealth Solutions
“Over the last ten-plus years, I’ve seen first-hand the remarkable growth of PWS. I couldn’t be more excited to partner with Joan and the team as we continue to scale the business and help advisors unlock access to private markets for their clients.”
- Farhad Karim
“As our business expands, we continue to look for ways to best serve our clients and capital raising partners. Chris and Adam will help these important relationships access the full breadth of Blackstone.”
- Vik Sawhney, Chief Administrative Officer and Global Head of Institutional Client Services
