Hamilton E. "Tony" James, executive vice chairman at Blackstone, will retire in January, according to an internal memo sent to employees obtained by Pensions & Investments.
"It is hard to adequately express my thanks to Tony for all that he has poured into Blackstone during his tenure," Blackstone CEO Stephen A. Schwarzman said in the memo. "We would not have gotten as far as we have, nor would Blackstone be the firm that it is today without his talent, commitment, and managerial strength. He has shown dedication, loyalty, and true imagination."
Mr. James joined Blackstone in 2002 as president and chief operating officer. In 2018, he stepped down from those roles and handed those responsibilities to Jonathan "Jon" Gray, who had been global head of real estate.
"It has been an amazing 20 years at Blackstone," Mr. James said in an emailed statement. "In that time, I have watched the firm grow its assets under management over thirtyfold and develop into what I believe is the finest financial institution in the world. While it has been a privilege to help guide the firm on that journey so far, under Steve's and Jon's leadership the best is yet to come."
The memo does not mention a replacement for Mr. James as executive vice chairman.
While at Blackstone, Mr. James oversaw the firm's initial public offering in 2007, led the acquisitions of GSO Capital Partners (which is now Blackstone Credit) and Strategic Partners in 2008 and 2013, respectively, and helped create Blackstone's Tactical Opportunities business in 2011.
Mr. James is co-chairman of the Metropolitan Museum of Art, chairman of the Partnership for Education Advancement at HBCUs, vice chairman for the Wildlife Conservation Society, chairman of the finance committee for Mount Sinai Hospital System and chairman of Costco.
Blackstone had $730.7 billion in assets under management as of Sept. 30.
