At a glance
- Meghji's exit comes nine months after Kathleen McCarthy, his co-head, announced her departure on LinkedIn.
- For allocators in Blackstone real estate vehicles, the handover adds a diligence item at the next commitment or redemption: who owns portfolio decisions, who owns fundraising, and whether the teams beneath them stay.
- In October, a $1.3 billion Blackstone CMBS multifamily loan went to special servicing, as Private Wealth Daily previously reported.
Nadeem Meghji is stepping down as co-head of Blackstone's real estate group, with Giovanni Cutaia and David Levine taking over the division, The Real Deal reported Nov. 9.
Meghji's exit comes nine months after Kathleen McCarthy, his co-head, announced her departure on LinkedIn. "The change was unexpected, so we understand why we're getting these questions," Cutaia told The Real Deal.
For allocators in Blackstone real estate vehicles, the handover adds a diligence item at the next commitment or redemption: who owns portfolio decisions, who owns fundraising, and whether the teams beneath them stay. Cutaia said the pair have been "traveling around the world and spending a lot of time with our investors."
In October, a $1.3 billion Blackstone CMBS multifamily loan went to special servicing, as Private Wealth Daily previously reported. The loan had $517.7 million outstanding on six remaining properties, according to Morningstar Credit.
The change was unexpected, so we understand why we're getting these questions.Giovanni Cutaia, co-head of Blackstone's real estate group
Reported by the Fundraising desk from The Real Deal and Morningstar Credit, via Private Wealth Daily archive. Published . Corrections