The Blackstone Group is to lose its head of private equity investor relations and business development John Dionne, who has resigned as a senior managing director.
In an internal memo see by Forbes, Blackstone’s global head of private equity Joe Baratta said, “John has been a great senior leader for the IRBD team and has built strong personal relationships with some of our most important LPs including Calpers, Calsters, GIC and Texas Teachers.
“Much of our success in raising BCP VI, which at $16.2bn, is likely to be the largest post-recession private equity fund raised for many years to come, can be attributed to John’s efforts and the advice and guidance he provided the team. John also has played a lead role in raising Blackstone Tactical Opportunities, one of the largest-ever first-time fundraises.”
Dionne originally joined Blackstone as a founder and CIO of the Blackstone Distressed Securities Fund and became a member of the Blackstone’s GSO Capital Partners’ Investment Committee.
Before joining Blackstone in 2005, he was a partner at Bennett Restructuring Funds, a $1bn hedge fund.
Dionne is a graduate of the Harvard Business School, where he will spending his time on a “new project”, the report said.
Copyright © 2013 AltAssets