Press release from Business Wire
Blackstone Bolsters Aerospace and Defense Expertise
Thursday, May 09, 2013
Blackstone Bolsters Aerospace and Defense Expertise10:00 EDT Thursday, May 09, 2013
NEW YORK (Business Wire) -- Blackstone (NYSE:BX) today announced that Jim Albaugh has been appointed as a Senior Advisor. Mr. Albaugh will focus primarily on the firm's private equity activities in the Aerospace and Defense sector, while also advising other businesses and clients across Blackstone's diverse platforms. Mr. Albaugh was most recently Chief Executive Officer and President of Boeing Commercial Airplanes at The Boeing Company.
Joe Baratta, Global Head of Private Equity at Blackstone, said, “We are delighted that Jim has agreed to join us as a Senior Advisor. Jim's addition to our team strengthens our expertise in the Aerospace and Defense sector and will help us pursue attractive opportunities on behalf of our limited partners.”
Jim Albaugh said, “I am excited about being a part of the Blackstone team as they look to pursue new transactions in the Aerospace and Defense sector. Blackstone's global investing platform presents an excellent opportunity for value creation in the Aerospace and Defense sector.”
Mr. Albaugh's prior positions at Boeing include President and CEO of Boeing Defense, Space & Security; Senior Vice President of Boeing and President of Space and Communications Group; President, Boeing Space Transportation; and President of Rocketdyne Propulsion and Power. He has also served as a director of TRW Automotive Holdings Corp. since 2006. He holds Bachelor's degrees in Mathematics and Physics from Willamette University and a Master's degree in Civil Engineering from Columbia University.
Blackstone is one of the world's leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.
Christine Anderson, 212-583-5182