Key Takeaways
- • Blackstone global co-head of real estate Kathleen McCarthy is stepping down at year-end 2025 after a 15-year tenure at the firm, according to Private Equity International (PEI).
- • Nadeem Meghji becomes sole head of Blackstone's real estate business, which PEI reports manages roughly $320 billion in property assets.
- • McCarthy's departure ends an eight-year run as global co-head of real estate, per coverage of the announcement.
- • McCarthy said she is leaving to explore new opportunities, and Blackstone has not publicly detailed a successor structure beyond Meghji's sole leadership.
Summary
Blackstone announced that Kathleen McCarthy, its global co-head of real estate, will step down at the end of 2025 after 15 years with the firm, according to a November 11, 2025 report by Randy Plavajka in Private Equity International's (PEI) private real estate coverage. The move leaves Nadeem Meghji in sole leadership of Blackstone's real estate platform, which PEI describes as a $320 billion property business.
Coverage of the announcement indicates McCarthy's tenure as global co-head spanned eight years, within her broader 15 years at the firm. She is described in press reports as one of Blackstone's highest-ranking women. McCarthy said she would leave her role by year-end to explore new opportunities. The Real Estate Roundtable also publicized the announcement, characterizing the departure as following a 15-year tenure.
The transition consolidates oversight of one of the largest real estate franchises among global alternative asset managers under Meghji. Further details on any changes to the leadership structure, reporting lines, or investment committee roles were not disclosed in the available reporting.
Coverage of the announcement indicates McCarthy's tenure as global co-head spanned eight years, within her broader 15 years at the firm. She is described in press reports as one of Blackstone's highest-ranking women. McCarthy said she would leave her role by year-end to explore new opportunities. The Real Estate Roundtable also publicized the announcement, characterizing the departure as following a 15-year tenure.
The transition consolidates oversight of one of the largest real estate franchises among global alternative asset managers under Meghji. Further details on any changes to the leadership structure, reporting lines, or investment committee roles were not disclosed in the available reporting.
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