Global private equity giant Blackstone has boosted its ESG team by creating five new managing director positions across the US, Europe and Asia.
Former IFC ESG engagement lead Elizabeth Lewis becomes managing director of ESG (corporate), handling implementation of ESG policies across Blackstone’s businesses.
James Mandel becomes managing director of sustainability (portfolio operations) following eight years as managing director of the global carbon-free buildings programme for Rocky Mountain Institute. He will lead Blackstone’s carbone emissions reduction programme.
Nina James has been named head of real estate ESG (real estate, Asia). She was previously the general manager of responsible investment and corporate sustainability for InvestaProperty Group.
Caroline Hill takes on the same role for Europe, building out ESG capabilities in real estate asset management. She was previously head of responsible business for Lloyds Banking Group.
Rita Mangalick, meanwhile, becomes global head of ESG for Blackstone Alternative Asset Management and Blackstone Credit.
Mangalick will partner with both groups to lead ESG diligence, policy development, reporting and engagement.
Blackstone said Mangalick had been instrumental in developing BAAM’s ESG program, along with a focus on BAAM’s Advisory Business.
She was previously a member of the Business Financial Evaluation team performing operational due diligence of BAAM’s hedge fund managers, and was formerly a director at UBS Asset Management.
Last year Blackstone announced a goal to reduce carbon emissions by 15% across all new investments globally where it controls energy usage within the first three years of ownership.
It also revealed a target of at least one-third diverse representation on portfolio company boards for new control investments in the US and Europe, plus a program to support creating diverse hiring and career mobility.
Jon Gray, Blackstone president and COO, said, “We view ESG as central to our mission of delivering strong returns for clients.
“Blackstone is using its scale and expertise to help strengthen our companies, assets and the communities in which they operate.”
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