Blackstone hires head of European private equity - Pensions & Investments

Blackstone announced on October 27, 2025, that Michele Rabà will assume the role of Head of European Corporate Private Equity effective April 2026. Rabà transitions from Apollo Global Management, where he served as lead partner for European private equity, bringing 15 years of experience at the firm managing significant regional transactions. He will oversee Blackstone's corporate private equity activities across Europe through the flagship Blackstone Capital Partners strategy and the long-dated Blackstone Core Equity Partners vehicle. The appointment follows the promotion of incumbent Lionel Assant, who held the European leadership position since 2012 and now serves as Global co-Chief Investment Officer, expanding his remit across Blackstone's broader private equity platform to shape investment strategy and decision-making.

Blackstone's European private equity business extends across multiple strategies, with Qasim Abbas and Paul Morrissey continuing to lead Tactical Opportunities and Growth initiatives respectively. Rabà's appointment underscores the firm's strategic focus on the region, where Blackstone currently manages over $350 billion in assets overall and has established a leading private equity presence over its 25-year operating history in Europe.

The hiring reflects Blackstone's ambitious regional investment thesis. The firm projects the capacity to deploy more than $500 billion in European assets over the next decade, substantially exceeding its current regional asset base. This expansion target aligns with recent market sentiment improvements, particularly Blackstone President Jon Gray's assessment that "the deal dam is finally breaking," suggesting a transition from subdued private equity deployment to accelerated transaction activity. The appointment occurs against a backdrop of recovering European dealmaking confidence after a period of constrained capital deployment.

Rabà's background at Apollo provides relevant deal execution experience across several marquee European transactions, including financial services, gaming, lottery, payments infrastructure, and travel sectors. Prior to Apollo, he worked in investment banking at Goldman Sachs in London. Joseph Baratta, Blackstone's Global Head of Private Equity Strategies, stated: "Europe is core to our private equity business, and we are excited about the opportunity to drive continued growth in the region that builds on our strong foundations and local presence." This leadership appointment positions Blackstone to capitalize on improving conditions in European private equity while leveraging existing regional infrastructure and deal-sourcing capabilities.