Jennifer Abate
Private equity giant Blackstone (NYSE:BX) has named Jennifer Abate as senior managing director and head of a new, dedicated channel focused on registered investment advisers within its Blackstone Private Wealth division. The appointment signals another significant step in the firm’s strategic push to expand its presence within the independent adviser market.
In this newly created role, Abate will be responsible for developing and executing the RIA channel strategy, leading home office relationships, and overseeing the sales force. She will manage a national distribution team across Blackstone offices in Boston, Charlotte, Chicago, Columbus, Dallas, Denver, Houston, Kansas City, Los Angeles, Miami, San Francisco/Bay Area and Tampa, and report to Joe Lohrer, head of U.S. retail sales for Blackstone Private Wealth.
“As we continue our mission to bring institutional-quality investing to individual investors via their advisers, RIAs are a key channel for us to broaden our reach,” said Lohrer, in a statement. “Jen’s extensive experience positions us well to meet the strong demand we see from investors seeking private markets exposure through their advisers.”
Abate joins Blackstone after more than three decades at Lazard Asset Management, where she led the financial institutions group.
She highlighted Blackstone’s broad platform as a key advantage: “The scale and track-record of Blackstone’s platform, across private equity, private real estate, private credit and infrastructure, means it is a one-stop-shop for private markets for advisors and the investors they serve.”
Abate holds an M.B.A. from New York University’s Stern School of Business and a bachelor’s degree in political science from Fairfield University.
Blackstone currently manages $271 billion globally within its private wealth channel and has a dedicated team of over 300 professionals. The firm offers a range of private market products accessible to wealth clients, including Blackstone Real Estate Income Trust, Blackstone Private Credit Fund, and the recently launched Blackstone Private Multi-Asset Credit & Income Fund, an interval fund which had been in the works since last summer.
This hiring follows last month’s news of Blackstone’s partnership with Vanguard and Wellington Management to develop multi-asset portfolios blending private and public investments – another effort to transform how everyday investors access the highest quality investment opportunities.
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, real assets, secondaries and hedge funds.
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