Blackstone announced today that Joe Baratta will become head of global private equity for the firm. Mr. Baratta currently heads the private equity team in Europe and is a member of the firm’s Executive Committee. He will be based in New York beginning in September.
“Joe Baratta embodies the best of Blackstone – high integrity, strong investment acumen, a focus on the needs of our limited partners and a great developer of talent. He has been a key part of the leadership team at Blackstone and I look forward to having him broaden his role within the private equity group,” said Tony James, Blackstone’s President.
Mr. Baratta joined Blackstone in 1998 in its private equity business. In 2001, he moved to London to help open Blackstone’s London office and establish a European private equity business. Over the years, he has led some of Blackstone’s largest and most successful investments, both in Europe and the United States. These include SeaWorld Parks and Entertainment, Merlin Entertainments Group, Center Parcs and Spirit Group. Mr. Baratta is a graduate of Georgetown University.
Blackstone’s private equity group comprises 129 professionals in New York, London, Germany, Mumbai, Singapore, Hong Kong, Shanghai and Beijing. It currently has $47 billion in assets under management. If its 73 investments and pending transactions were combined, it would represent $117 billion of revenues and approximately 703,000 employees, or the equivalent of what would be the 13th largest company by revenue among the Fortune 500 in 2012. Blackstone Capital Partners VI, Blackstone’s latest private equity fund, closed in January of this year with over $16 billion in commitments (www.blackstone.com).