Blackstone has recruited Chris Blunt, the former president of New York Life’s Investments Group, to lead its new business venture—Blackstone Insurance Solutions. Blunt is now the chief executive officer of that unit and a senior managing director.
Blunt previously oversaw $500 billion in assets under management (AUM) and five businesses as the president of the New York Life unit. He has also worked at other large wirehouses, including Goldman Sachs and Merrill Lynch.
He has 13 years of experience in the industry.
“I am excited to join Blackstone and continue expanding the firm’s partnerships with the insurance industry,” said Blunt in a statement.
According to the firm’s release, Blackstone Insurance Solutions customizes and diversifies Blackstone products and offers management of investment portfolios for insurance companies. The practice currently manages investments for Fidelity and Guaranty Life, overseeing $22 billion in AUM.