Blackstone Hires Kelley Morrell as Head of Asset Management for Tactical Opportunities Business
September 05 2017 - 4:00PM
Business Wire
Blackstone (NYSE:BX) today announced that Kelley Morrell will
join Blackstone as a Managing Director and Head of Asset Management
for its Tactical Opportunities business. In that role, she will be
responsible for ongoing management and oversight of the group’s
investment portfolio, and creating and driving added-value
initiatives alongside the investment team.
Morrell joins Blackstone from CIT, a financial holding company
with more than $50 billion in assets, where she served as Executive
Vice President and Chief Strategy Officer. At CIT, Morrell helped
shape the company's strategic direction following its emergence
from bankruptcy, and led numerous strategic transactions that
contributed to CIT's transformation to a bank. Prior to that,
Morrell served as senior director of the U.S. Treasury's Automotive
Industry Financing Program during the Obama Administration,
where she had primary responsibility of overseeing the taxpayer's
investments in Chrysler Financial and Chrysler Group. Morrell
graduated magna cum laude from Harvard College and received her MBA
with distinction from Harvard Business School.
David Blitzer, Global Head of Blackstone’s Tactical
Opportunities group, said: “We are excited to have Kelley join
Blackstone. She has a strong track record of successfully
managing complex situations with various stakeholders across
multiple industries. We look forward to her delivering that
expertise and judgment to our portfolio.”
Kelley Morrell added: “I am thrilled to have the opportunity to
join Blackstone Tactical Opportunities. It’s an innovative strategy
with a diverse and differentiated portfolio of investments, and I
am looking forward to leading the group’s asset management effort
for the benefit of our investors.”
About Blackstone:
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our asset management
businesses, with over $370 billion in assets under management,
include investment vehicles focused on private equity, real estate,
public debt and equity, non-investment grade credit, real assets
and secondary funds, all on a global basis. Further information is
available at www.blackstone.com. Follow Blackstone on Twitter
@Blackstone.
About Tactical Opportunities:
Tactical Opportunities (Tac Opps) is Blackstone's opportunistic
investment platform. The Tac Opps team invests globally across
asset classes, industries and geographies, seeking to identify and
execute on attractive, differentiated investment opportunities. As
part of the strategy, the team leverages the intellectual capital
across Blackstone’s various businesses while continuously
optimizing its approach in the face of ever-changing market
conditions.
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