Blackstone has named Joe Baratta head of global private equity just 18 months after promoting him to the corresponding role in Europe.
Baratta (pictured) was still in his twenties when Blackstone charged him with launching the firm’s European arm alongside David Blitzer in 2001.
He was promoted to European private equity head last year when the incumbent Blitzer moved back to New York, and will follow him to the city thanks to his promotion.
Baratta laid the groundwork for Blackstone becoming one of the world’s largest theme park operators after pushing his idea to buy a controlling stake in Merlin Entertainment to suspicious senior executives at the company.
The deal made Blackstone over three times return on its initial nvestment, and has since persuaded the firm to invest in businesses including Sea World, Legoland and a string of water parks.
Blackstone president Tony James said “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.”
Blackstone, the world’s largest private equity firm, has 129 professionals across the globe and $47bn of assets under management.
It closed its latest buyout fund, Blackstone Capital Partners VI, on $16m this January.
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