By Isla Binnie
NEW YORK (Reuters) -Blackstone has appointed a former executive at private markets peer Apollo to head its European corporate private equity business, filling the role after the incumbent was promoted, the world’s biggest alternative asset manager said on Monday.
Michele Raba will take charge in a region where Blackstone manages more than $350 billion in assets and thinks it could invest more than $500 billion over the next decade.
Blackstone’s Global Head of Private Equity Strategies Joseph Baratta said in a statement: “Europe is core to our private equity business, and we are excited about the opportunity to drive continued growth in the region that builds on our strong foundations and local presence.”
The firm’s European private equity business has been run since 2012 by Lionel Assant, who is now moving to the role of Global co-Chief Investment Officer.
Raba previously led European Private Equity at Apollo, and prior to that worked at Goldman Sachs. He will step into his new role in April 2026.
Blackstone reported last week that its total assets under management had climbed to $1.24 trillion.
(Reporting by Isla Binnie; Editing by Conor Humphries)
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