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NEW YORK - Investment firm Blackstone (NYSE:BX), a $199.5 billion market cap giant that according to InvestingPro analysis is currently trading near its Fair Value, announced Monday that Monica Issar will join as Senior Managing Director and Head of Total Portfolio Management (TPM) within its Multi-Asset Investing division.
Issar, who will be based in New York, will join the TPM leadership team working with Co-Chief Investment Officers Joe Dowling and David Ben-Ur. She will report directly to Dowling, who serves as Global Head of Blackstone Multi-Asset Investing, a division that has contributed to the company’s impressive 24.6% revenue growth over the last twelve months.
With over 25 years of experience in multi-asset investing and portfolio solutions, Issar previously served as Global Head of Multi-Asset & Portfolio Solutions at J.P. Morgan Global Private Bank. There, she managed a $55 billion Outsourced Chief Investment Office and led a team of more than 300 professionals overseeing $600 billion in single- and multi-asset portfolios.
"Monica is a proven leader with a remarkable track record of driving innovation in investment solutions and scaling multi-asset platforms," Dowling said in the press release statement.
Blackstone’s Total Portfolio Management platform manages large-scale portfolios across asset classes in both public and private markets. The platform serves clients seeking strategic investment partners who can deliver tailored solutions across various opportunities.
Blackstone Multi-Asset Investing currently manages $88 billion across diversified businesses including Absolute Return, Multi-Strategy, Total Portfolio Management, and Public Real Assets.
In other recent news, Blackstone Inc. has been active with several significant developments. The company has recommended an improved takeover offer for Britain’s Warehouse REIT, raising its bid to approximately £489 million ($662.20 million), surpassing a previous offer from Tritax Big Box REIT. Blackstone has also formed a private credit partnership with Legal & General Group Plc, aiming to reach up to $20 billion over the next five years. This collaboration is part of a trend where asset managers are building relationships with insurance companies to expand in the private credit market. Additionally, Blackstone is considering a joint bid for the French telecom operator SFR, a deal that could value SFR at up to €30 billion ($35 billion).
In another development, Blackstone has agreed to purchase Allegiant Travel Company’s Sunseeker Resort for about $200 million, marking a significant discount from the $720 million Allegiant spent on development. Furthermore, Blackstone is acquiring Vista Equity Partners’ minority stake in Cvent Holding Corp. for $1.3 billion, completing Vista’s exit from the events software company. These moves reflect Blackstone’s strategic expansion in both real estate and technology sectors.
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