Blackstone (NYSE:BX) today announced that Kelley Morrell will join Blackstone as a Managing Director and Head of Asset Management for its Tactical Opportunities business. In that role, she will be responsible for ongoing management and oversight of the group's investment portfolio, and creating and driving added-value initiatives alongside the investment team.
Morrell joins Blackstone from CIT, a financial holding company with more than $50 billion in assets, where she served as Executive Vice President and Chief Strategy Officer. At CIT, Morrell helped shape the company's strategic direction following its emergence from bankruptcy, and led numerous strategic transactions that contributed to CIT's transformation to a bank. Prior to that, Morrell served as senior director of the U.S. Treasury's Automotive Industry Financing Program during the Obama Administration, where she had primary responsibility of overseeing the taxpayer's investments in Chrysler Financial and Chrysler Group. Morrell graduated magna cum laude from Harvard College and received her MBA with distinction from Harvard Business School.
David Blitzer, Global Head of Blackstone's Tactical Opportunities group, said: "We are excited to have Kelley join Blackstone. She has a strong track record of successfully managing complex situations with various stakeholders across multiple industries. We look forward to her delivering that expertise and judgment to our portfolio."
Kelley Morrell added: "I am thrilled to have the opportunity to join Blackstone Tactical Opportunities. It's an innovative strategy with a diverse and differentiated portfolio of investments, and I am looking forward to leading the group's asset management effort for the benefit of our investors."
About Blackstone:
Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $370 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Tactical Opportunities:
Tactical Opportunities (Tac Opps) is Blackstone's opportunistic investment platform. The Tac Opps team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities. As part of the strategy, the team leverages the intellectual capital across Blackstone's various businesses while continuously optimizing its approach in the face of ever-changing market condition
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