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Blackstone hires former Boeing Defense CEO as senior advisor

9 May 2013

Jim Albaugh - BCA President & CEO K64770Buyout major Blackstone has strengthened its team by appointing former Boeing Defense CEO Jim Albaugh as senior advisor to focus on investments in the defence and aerospace sector.

Albaugh has also served as a director of TRW Automotive Holdings since 2006.

Blackstone’s head of private equity Joe Baratta said, “Jim’s addition to our team strengthens our expertise in the aerospace and defense sector and will help us pursue attractive opportunities on behalf of our limited partners.”

The New York-headquartered firm has about $218bn of assets under management, including $52bn in private equity.

Last month Blackstone said it planned to hire 50,000 US veterans across its portfolio companies over the next five years.

In the meantime, it was reported yesterday that Blackstone was looking to make a full exit of its investment in real estate investment trust General Growth Properties.

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