Blackstone announced today that Joseph Cassanelli, former Co-Head of Lazard’s U.S. Financial Institutions Group, has joined Blackstone Tactical Opportunities as a Senior Managing Director. Mr. Cassanelli will be based in New York and serve as an investment professional within Tac Opps focused on the financial services sector.

Chris James, Global Head of Tac Opps, said: “Joe’s deep expertise and relationships in the financial services sector make him an ideal addition to Tac Opps, as we continue to seek to deliver differentiated performance for our investors. We believe our scale and flexible capital are particularly well suited for today’s market environment, and look forward to working with Joe to continue serving as a trusted capital solutions provider to businesses in financial services and beyond.”

Joseph Cassanelli added: “I am thrilled to join Blackstone Tactical Opportunities, which has built a well-deserved reputation for creativity and innovation as a pioneer in hybrid capital with exceptional investment professionals. I look forward to providing bespoke capital solutions in partnership with outstanding management teams and companies across the financial services sector.”

Blackstone launched its Tactical Opportunities platform in 2012 – a strategy the firm pioneered – to invest across the landscape of private investment opportunities outside of traditional private equity and private credit. Tac Opps today has $34 billion of assets under management and is the largest hybrid capital solutions platform in the world. The Tac Opps team invests globally across asset classes, industries, and geographies, utilizing bespoke and innovative structures to seek to deliver compelling risk-adjusted returns by identifying and executing on attractive, differentiated investment opportunities.

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