Blackstone credit funds announce leadership changes
Blackstone has announced a series of leadership changes for a number of its credit funds.
Robert Zable has resigned from his positions as trustee and chairman of the boards of trustees and as president and chief executive of the Blackstone Senior Floating Rate 2027 Term Fund, the Blackstone Long-Short Credit Income Fund, and the Blackstone Strategic Credit 2027 Term Fund.
Following his resignation on 15 November 2024, the board appointed Daniel Leiter to these positions.
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Leiter is the head of international for Blackstone Credit & Insurance and the global head of liquid credit strategies. Before joining Blackstone in 2024, he worked at Morgan Stanley where he was a managing director in fixed income.
Marisa Beeney has also resigned from her positions as chief legal officer and secretary of the funds, and effective 15 November the board appointed Kevin Michel to replace her in these roles.
Michel is a managing director in the legal and compliance group at Blackstone. He joined Blackstone in 2015 and is involved in the legal structuring and management of Blackstone’s retail-focused funds.
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Furthermore, Zable and Gordon McKemie have stepped down as portfolio managers of the funds, replaced by Daniel McMullen and Meghan Fornshell.
McMullen is a senior managing director and the head of loan strategies for Blackstone Credit & Insurance’s liquid credit strategies group. He is also the senior portfolio manager for the liquid credit strategies’ US loan separately managed accounts, commingled funds, and exchanged traded funds.
Meanwhile, Fornshell is a principal and portfolio manager at Blackstone Credit & Insurance, focused on US loan strategies.
Robert Post remains a portfolio manager of the funds. Blackstone has confirmed that there will be no change to the funds’ strategies, investment objectives, or policies as a result of these changes.
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