February 14, 2018
New York-based Blackstone is turning over day-to-day management of the firm to Jon Gray, who has served as Global Head of Real Estate since 2005. He assumes the reins from President and Chief Operating Officer Tony James, who will continue in a full-time role at the firm and assume the title of Executive Vice Chairman, reporting to Stephen A. Schwarzman, Co-Founder, Chairman and Chief Executive Officer.
Gray will become President and COO, also reporting to Schwarzman. Two long-time leaders in Blackstone’s real estate group, Ken Caplan and Kathleen McCarthy, will take over Gray’s role, as Global Co-heads of Real Estate.
Gray came to Blackstone in 1992 straight out of college, initially starting in the private equity and mergers and acquisition areas, before joining the real estate group at its inception. He has helped build the world’s largest real estate business, with more than $115 billion of investor capital.
For comments, questions or concerns, please contact Dennis Kaiser