Blackstone Global Real Estate Co-Head Announces Departure

Kathleen McCarthy Baldwin, global co-head of real estate at Blackstone (NYSE: BX) and one of Wall Street’s highest-ranking female executives, announced on LinkedIn that she will be depart the firm at the end of the year, writing “it’s time for my next chapter.”

In a public post, McCarthy Baldwin reflected on her 15-year tenure, calling the experience of leading Blackstone Real Estate “one of the great privileges of my career – fun, challenging, and deeply rewarding.” She expressed pride in the team she helped build, crediting her colleagues’ excellence and commitment to putting clients first.

The real estate division is one of the largest franchises in the industry, accounting for roughly $320 billion of Blackstone’s total assets under management.

Following her exit, Nadeem Meghji, the firm’s other co-head of real estate, will become the unit’s sole head. Meghji has been with the firm for nearly 18 years and served as co-head alongside McCarthy Baldwin for the past two years.

McCarthy Baldwin, age 47, first joined Blackstone in 2010 in an investor relations capacity and quickly rose through the ranks, becoming the division’s chief operating officer three years later. She was named co-head in 2018.

McCarthy Baldwin did not disclose her next professional steps, noting only that she will remain focused on her role through the end of 2025, and plans for “family time and travel over the holidays” before turning to new challenges.

Previously reported by AltsWire, Blackstone’s non-traded real estate investment trust – Blackstone Real Estate Income Trust, or BREIT – recently launched a Delaware statutory trust platform and introduced two new share classes, Class L and Class L-2, aimed at attracting and accommodating ultra-high-net-worth and institutional accredited investors.

Click here to visit the AltsWire directory page.