Blackstone Group is undergoing a leadership change in one of its crucial divisions. David Blitzer, a 55-year-old billionaire dealmaker, is stepping back from his role in managing the day-to-day operations of Blackstone's $37 billion "Tactical Opportunities" division. He will transition to serve as the chairman of this business. This update was shared with investors.
Blitzer, known for his rapid speech and direct approach, has built a sports empire and served as a cultural pillar for Blackstone, the world’s largest alternative asset manager. Under his leadership, since its establishment in 2012, Tac Opps has invested in strategies that do not fit neatly into equity or credit categories, showcasing Blackstone's diverse business scope beyond its foundational acquisition business.
As Blackstone evolves into a company valued at $1.1 trillion, investment decisions are increasingly guided by committees rather than individuals. Chris James, known as "CJ," has been with Blackstone for nearly 20 years and is a founding member and COO of Tac Opps. The 48-year-old James has played a key role in launching crucial businesses such as the company's insurance platform and is recognized for his expertise in structuring investment decisions.
Blackstone CEO Steve Schwarzman and President Jon Gray noted in a memo that James was instrumental in establishing Tac Opps as the world’s largest structural capital platform. This memo highlighted James's promotion.
