Blackstone’s Wealth Chief Targets $1 Trillion In Assets

Blackstone Inc.’s Joan Solotar, who has spent the past decade focused on attracting investments from wealthy clients, is now aiming for her unit to manage $1 trillion in assets, Bloomberg News’ Benjamin Stupples and Anna Edwards reported.

Solotar, Blackstone’s global head of private wealth solutions, achieved a $250 billion fundraising milestone nearly four years ahead of schedule. I Photo: Blackstone X

Solotar, Blackstone’s global head of private wealth solutions, achieved a $250 billion fundraising milestone nearly four years ahead of schedule.

Over the past five years, her unit at the world’s largest alternative asset manager has increased its assets under management nearly fivefold, driven by an aggressive expansion across the US, Europe, and Asia.

This growth has contributed to pushing Blackstone’s share price to a record high this year and cemented Solotar’s role as a pivotal leader at the firm, which she joined in 2007 after leading Bank of America Corp.’s equity research team.

Solotar, 60, discussed with Bloomberg her vision for the future of private markets, what inspires her leadership, and the key lessons she has learned during her tenure. Blackstone, which reached its company-wide target of managing $1 trillion in assets last year, is now positioned for further success under her ambitious new goals.