December 2, 2024
Farhad Karim Appointed Global COO of Private Wealth Solutions
Chris Sullivan Appointed Head of Sponsor Coverage
Adam Lane Appointed Head of Consultant Relations
NEW YORK, December 2, 2024 – Blackstone (NYSE: BX) today announced three appointments to key firmwide roles and the creation of two new functions to enhance client coverage and capital raising. Blackstone veterans Farhad Karim and Chris Sullivan will step into new roles and the firm is pleased to welcome Adam Lane.
Jon Gray, President & COO, said: “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.”
Farhad Karim will become Global Chief Operating Officer of Private Wealth Solutions (PWS). Blackstone’s PWS business provides financial advisors access to institutional-quality alternative investments for their clients, including dedicated products across real estate, credit, private equity and infrastructure. Blackstone launched this business more than a decade ago and today manages an industry-leading $250B 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, Mr. Karim will be responsible for overseeing the group’s day-to-day operations, including continued product and regional expansion.
Joan Solotar, Global Head of Private Wealth Solutions, said: “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.”
Mr. Karim added: “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.”
Mr. 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 more than 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. Prior to Blackstone, he spent more than 20 years at Barclays.
Adam Lane will join the firm as Head of Consultant Relations. Mr. Lane will focus on cultivating Blackstone’s enterprise-level relationships with the consultant community, who are key advisors to the firm’s institutional clients. He will also play an important role assisting Blackstone’s Private Capital Group, given his extensive experience in this channel. Mr. 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.
Vik Sawhney, Chief Administrative Officer and Global Head of Institutional Client Services, said: “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.”
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
Contact
Thomas Clements
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