Jon Korngold was named senior managing director and head of Blackstone Group's new growth equity investing platform, spokesman Matthew Anderson confirmed.
Mr. Korngold, who will join the alternative money manager in February, will be responsible for building and running the new platform, which will provide capital to firms during the phase between venture capital investments and buyouts.
He was previously a managing director at growth equity firm General Atlantic. A spokeswoman said his prior responsibility as head of investments had been taken on by managing directors Aaron Goldman, who is based in London, and Paul Stamas, who is based in New York.
Blackstone Group had $457 billion in assets under management as of Sept. 30.