Key Takeaways
- • Blackstone hired Joe Dowling, former Chief Executive Officer of Brown University's endowment, as Global Co-Head of the firm's $78 billion hedge fund unit, effective January 2021.
- • Dowling will share leadership of Blackstone's alternative assets division with John McCormick, who has run the hedge fund unit since early 2018.
- • Dowling brings endowment management expertise and prior hedge fund experience, having run a $1.2 billion hedge fund before joining Brown's investment office in 2013 as Chief Investment Officer.
- • The appointment signals Blackstone's strategic expansion and emphasis on alternative asset management, combining Dowling's institutional investment background with the firm's existing hedge fund operations.
Summary
Blackstone has recruited Joe Dowling to serve as Global Co-Head of its hedge fund division, a major addition to the firm's alternative assets leadership. Dowling, who most recently served as Chief Executive Officer of Brown University's Investment Office, will assume the co-head role alongside John McCormick, who has led the $78 billion hedge fund unit since early 2018.
Dowling's background positions him as a seasoned institutional investor with deep expertise in alternative assets. He joined Brown University's endowment in June 2013 as Chief Investment Officer before advancing to CEO in July 2018, a position he held through July 2020. Prior to his tenure at Brown, Dowling successfully ran his own hedge fund, which managed $1.2 billion at its peak, providing him with firsthand experience in hedge fund operations and portfolio management.
The hire reflects Blackstone's ongoing commitment to strengthening its alternative investment platform at a time when endowments and institutional investors are increasingly allocating capital to hedge funds and multi-asset strategies. By bringing Dowling into a co-leadership structure with McCormick, Blackstone appears positioned to leverage his institutional relationships, endowment expertise, and track record in alternative asset allocation—areas critical to driving growth and performance in the firm's substantial hedge fund operations.
Dowling's background positions him as a seasoned institutional investor with deep expertise in alternative assets. He joined Brown University's endowment in June 2013 as Chief Investment Officer before advancing to CEO in July 2018, a position he held through July 2020. Prior to his tenure at Brown, Dowling successfully ran his own hedge fund, which managed $1.2 billion at its peak, providing him with firsthand experience in hedge fund operations and portfolio management.
The hire reflects Blackstone's ongoing commitment to strengthening its alternative investment platform at a time when endowments and institutional investors are increasingly allocating capital to hedge funds and multi-asset strategies. By bringing Dowling into a co-leadership structure with McCormick, Blackstone appears positioned to leverage his institutional relationships, endowment expertise, and track record in alternative asset allocation—areas critical to driving growth and performance in the firm's substantial hedge fund operations.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.