May 9, 2019 / News

Blackstone launches impact platform

By Joe McGrath, ESG Clarity

The company manages more than $512bn in alternative assets in real estate, private equity and infrastructure

Blackstone launches impact platform

Blackstone, the alternatives specialist, has announced the launch of its impact investing platform, hiring a former Goldman Sachs director to lead the initiative.

The new Blackstone impact investing platform will be part of the group’s Strategic Partners division and will aim to deliver investment returns while addressing themes relating to health and wellbeing, financial access, green technologies and sustainable communities.

The former managing director of Goldman Sachs’ Merchant Banking Division, Tanya Barnes, is to lead the programme, which the investment giant says will “unlock new opportunities for investors”.

“We are thrilled to welcome Tanya Barnes to our team and to announce the launch of this initiative, Verdun Perry, global head of the company’s Strategic Partners group said in a statement.

“Our impact platform has a powerful value proposition and significant growth potential. We believe it will greatly expand our ability to generate positive, measurable social and environmental impact, while making the companies we invest in more valuable.”

Blackstone are internationally renowned in the alternatives space, with some $512bn in assets under management across real estate, private equity public debt and equity and real asset investments. The company’s Strategic Partners division has raised $42 billion for private equity, real estate, infrastructure and fund investments since 2000.

“I look forward to leveraging the firm’s expertise and scale to expand the role of private capital to create solutions that address the world’s most pressing social and environmental challenges,” said newly appointed Barnes.

In her former role, Barnes focused on private equity investments and was responsible for developing thematic investment targets in financial services and consumer retail companies.