Blackstone Taps Franck Petitgas for Europe Leadership

Blackstone, the world's largest alternative asset manager, is making a significant strategic move to bolster its presence in Europe with a major leadership appointment. The firm has announced the hiring of Franck Petitgas, a highly respected figure in international finance, as Senior Managing Director and Vice Chairman, Europe. This newly created role signals Blackstone's ambitious plans to deepen its engagement and investment across the continent.

A New Era for Blackstone in Europe

Petitgas's appointment, effective January 2026, marks a deliberate expansion of Blackstone's leadership team in Europe. He will work directly with the firm's top executives on strategic initiatives focused on financing, building, and scaling businesses and critical infrastructure throughout the region. His mandate includes senior-level client engagement, aiming to strengthen Blackstone's relationships and capitalize on emerging opportunities.

Stephen A. Schwarzman, Blackstone's Co-Founder, Chairman, and CEO, emphasized the significance of this hire, stating that Petitgas brings "experience at the highest levels of international finance." Schwarzman further highlighted that Petitgas's extensive relationships across Europe will be instrumental in accelerating Blackstone's growth and investment strategies in the region.

Who is Franck Petitgas?

Petitgas is not a newcomer to the pinnacle of global finance. He spent an impressive three decades at Morgan Stanley, where he held several key leadership positions. He served on the firm's prestigious Operating Committee, co-headed Global Investment Banking, and later led Morgan Stanley International. This background demonstrates his deep expertise in complex financial markets and large-scale deal-making.

Following his retirement from Morgan Stanley in 2023, Petitgas transitioned into the public policy sphere, serving as Chief Business Adviser to then UK Prime Minister Rishi Sunak. His influence grew further in 2024 when he was appointed to the UK House of Lords. This unique blend of top-tier finance experience and high-level political advisory work positions him uniquely to understand and navigate the complex European landscape.

Petitgas expressed enthusiasm for joining Blackstone, calling it "the most consequential firm in investing today." He specifically noted Blackstone's focus on deploying capital to address major investment needs across Europe, citing growth, innovation, and long-term value creation as key priorities he looks forward to advancing.

Blackstone's European Ambitions

This leadership expansion underscores Blackstone's long-standing commitment to Europe. The firm has been actively investing in the region for over 25 years and has accumulated assets under management exceeding $350 billion across private equity, real estate, credit, and infrastructure sectors.

Looking ahead, Blackstone has set an incredibly ambitious target: deploying more than $500 billion into European opportunities over the next decade. This massive capital infusion is strategically aligned with major thematic shifts driving the European economy, including digitalization, artificial intelligence, electrification, and reindustrialization. Petitgas's appointment is seen as a direct response to and facilitator of this ambitious growth trajectory.

The Significance of the Move

Hiring an individual of Petitgas's caliber is a clear statement from Blackstone about the importance it places on the European market. His combination of Wall Street pedigree, deep European networks, recent high-level government experience, and understanding of both the public and private sectors makes him uniquely qualified to help Blackstone navigate the evolving regulatory, economic, and political environment in Europe.

As Europe grapples with economic challenges and opportunities in areas like green energy transition, technological advancement, and industrial revitalization, Blackstone aims to be a primary source of capital and strategic partner. Petitgas's role will be crucial in identifying and executing on these large-scale opportunities, solidifying Blackstone's position not just as an investor, but as a significant player shaping Europe's economic future.

The stage is now set for January 2026 when Petitgas officially takes up his post, bringing his formidable expertise to bear on Blackstone's ambitious European growth plan.

"I am joining a firm I views as 'the most consequential firm in investing today,' adding that Blackstone is deploying capital to address major investment needs across Europe." - Franck Petitgas