Blackstone Forms New Company for Push Into Affordable Apartments
- Firm taps JPMorgan veteran Alice Carr to lead the effort
- April Housing, the new company, will start with 90,000 units
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Blackstone Inc. is forming a company to manage investments in affordable housing as the firm builds an operation to support a new strategic push.
The investing giant is hiring veteran lender Alice Carr to lead the new company, called April Housing. Carr, previously head of community development banking for JPMorgan Chase & Co., will oversee an initial portfolio of 90,000 units, according to a statement Wednesday.