Blackstone names Michele Rabà as Head of European PE

Blackstone has named Michele Rabà as its new Head of European Corporate Private Equity, a strategic appointment that takes effect in April 2026. The move positions an experienced dealmaker at the helm of the firm's flagship buyout activities across Europe as Blackstone seeks to scale its regional operations and deploy a mix of long-duration and traditional private equity capital.

In his new role, Rabà will run investments under both Blackstone Capital Partners and the long-dated vehicle Blackstone Core Equity Partners, supervising deal sourcing, portfolio strategy and exits across multiple sectors. He succeeds Lionel Assant, who has been reassigned to broader responsibilities as Global co-Chief Investment Officer, where he will influence private equity strategy at a platform level.

Blackstone emphasises that the appointment is part of a wider European push. The firm currently touts a global private equity AUM of around $396 billion and total assets under management near $1.2 trillion. In Europe alone, Blackstone manages roughly $350 billion and says it sees investment opportunities that could reach more than $500 billion across the next decade — signalling significant dry-powder deployment plans and a preference for scale and sector expertise.

Rabà joins from Apollo, where he served as Lead Partner for European Private Equity after a decade with the firm. Earlier in his career he worked in the Financial Institutions Group at Goldman Sachs International. He holds both undergraduate and master’s degrees in finance from Bocconi University. Colleagues describe him as an investor who blends sector focus with operational discipline — skills Blackstone says will be central as valuation dynamics and regulatory shifts reshape European deal-making.

The appointment also clarifies leadership across Blackstone’s broader European private equity franchise. Other strategies — including Tactical Opportunities and Growth — remain under the stewardship of existing regional heads, ensuring continuity in niche and growth-oriented segments while corporate buyouts shift under Rabà’s leadership.

Joseph Baratta, Global Head of Private Equity Strategies at Blackstone, said the firm was adding experience and continuity to an already deep bench, noting that Europe remains a central growth market for private equity allocations. The appointment is likely to accelerate Blackstone’s deal cadence in the region and refine how the firm balances traditional buyout exits with longer-hold strategies that target structural growth sectors.