Blackstone Group LP (BX), the largest manager of private-equity property funds, promoted Tyler Henritze and Tuhin Parikh to senior managing directors, increasing the number of partners in real estate to 18.
Henritze joined New York-based Blackstone in 2004 and worked on acquisitions including Equity Office Properties Trust in 2007, Extended Stay Inc. in 2010 and the Motel 6 budget chain this year. Parikh, who joined the firm in 2007, oversees property investments in India, where Blackstone has been stepping up acquisitions with plans to raise its first property fund for the Asia Pacific region next year.
Both Henritze and Parikh were previously managing directors. The promotions were confirmed today by Peter Rose, a Blackstone spokesman.
Blackstone manages about $54 billion of equity in its real estate unit, led by Jonathan Gray. The division generated 63 percent of the company’s income last year, while private equity, its traditional business of buying and selling companies, made up 15 percent, according to data compiled by Bloomberg.
To contact the reporter on this story: Hui-yong Yu in Seattle at email@example.com
To contact the editor responsible for this story: Kara Wetzel at firstname.lastname@example.org