Key Takeaways
- Geography: United States.
Analysis
Global investment firm Blackstone has appointed Joseph Cassanelli, former co-head of Lazard’s U.S. Financial Institutions Group, as Senior Managing Director within its Tactical Opportunities (“Tac Opps”) platform in New York.
Cassanelli brings over 20 years of advisory experience and has guided more than $500 billion in transactions during his tenure at Lazard. His notable clients include advising on Blackstone’s IPO, its C‑Corp conversion, and multiple financial services and insurance-related deals across Tac Opps and Blackstone Credit & Insurance.
He also chaired Lazard’s U.S. Fairness Opinion Committee and previously worked at Wasserstein Perella & Co. and Deloitte.
Chris James, Global Head of Tac Opps, noted: “Joe’s deep expertise and relationships in the financial services sector make him an ideal addition … as we seek to deliver differentiated performance for our investors.”
Joseph Cassanelli stated: “I am thrilled to join Blackstone Tactical Opportunities, which has built a well-deserved reputation for creativity and innovation in hybrid capital …”
Blackstone Tactical Opportunities, founded in 2012, invests in non‑traditional private equity and credit strategies. The platform currently oversees about $34 billion in AUM and closed its record-sized Fund IV in 2023, deploying nearly $10 billion in new capital in that vintage