Blackstone Hires Former Global Atlantic Co-President and CIO Gilles Dellaert to Lead Blackstone Insurance Solutions

NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE:BX) today announced that Gilles Dellaert, former Co-President and Chief Investment Officer of Global Atlantic, a leading retirement and life insurance company, will join the firm as the Global Head of Blackstone Insurance Solutions (BIS).

Blackstone Insurance Solutions was formed in 2018 to deliver Blackstone’s asset management expertise to the insurance industry. Leveraging the scale and breadth of Blackstone’s platform, BIS investment products are tailored to each individual insurer’s needs to help drive higher performance, faster growth, better capital efficiency, and increased returns on equity. In total, Blackstone manages over $60 billion in assets for insurance companies.

Jon Gray, Blackstone President & COO, said: “Gilles is a highly talented executive with deep experience in the insurance and investment management industries – making him an ideal choice for this position. We look forward to the unique set of skills he’ll bring to the table for our clients and insurance business, which is an important growth initiative for Blackstone.”

Tony James, Blackstone Executive Vice Chairman, said: “We are excited to welcome Gilles to Blackstone as we continue to grow our insurance business and serve more clients around the world. The low-interest-rate environment is creating challenges for the insurance industry. The customized, high-performing products and services Blackstone offers can be an important part of the solution.”

Mr. Dellaert will start at Blackstone on April 1, 2020. The BIS platform will operate under David Blitzer, Global Head of Blackstone’s Tactical Opportunities business.

Gilles Dellaert said: “Blackstone’s extensive range of offerings across the investment spectrum and access to substantial pools of equity capital make it an ideal partner to the insurance industry. The products Blackstone can deliver provide compelling risk-adjusted performance that helps insurers grow faster and keep their promises to customers. I look forward to helping Blackstone accomplish this mission for the benefit of insurers and their policyholders.”

As Co-President of Global Atlantic, Mr. Dellaert served as Chairman of the Investment Committee and Chief Investment Officer, with responsibility for investment and reinsurance activity across the life and annuity businesses. He previously worked in Goldman Sachs’ Securities Division Credit Trading and reinsurance businesses. Prior to his time at Goldman Sachs, he spent two years with JPMorgan in Brussels, London and New York. Mr. Dellaert holds a bachelor’s degree from Ghent University in Belgium.

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 $554 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, 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.