Joseph Dowling, chairman of Brown University's investment office, joined Blackstone Group on Tuesday as global co-head of the alternative investment firm's alternative asset management business, spokeswoman Paula Chirhart said spokeswoman in an email.
The position is new.
"Joe's experience in investing in hedge funds, public equity (particularly in faster growing sectors), commodities and currencies make him an excellent addition to our team," said Stephen A. Schwarzman, Blackstone chairman, CEO and co-founder in a Blackstone news release.
Mr. Dowling will work alongside John McCormick, who will now assume the role of global co-head of BAAM. He had been global head of BAAM. Mr. Dowling will oversee investments, while Mr. McCormick will oversee business and investor functions of BAAM.
"We did this because as BAAM's business has diversified and grown under John's leadership, the investment demands of BAAM's four businesses have increased," Ms. Chirhart said in an email.
Tuesday was also Mr. Dowling's last day at Providence, R.I.-based Brown University, where he had served in a part-time role since July 2020 as chairman of the investment office and senior adviser to Brown President Christina H. Paxson, a university news release said. Brown has a $4.7 billion endowment.
Brown University spokesman Brian E. Clark could not be reached for information on Mr. Dowling’s replacement.
