Blackstone Inc is overhauling its growth investing platform to create a new dedicated artificial intelligence-focused division, as the firm accelerates its exposure to AI infrastructure and technology assets across its portfolio, according to a report by Bloomberg.
The new West Coast-based unit, to be named Blackstone N1, will concentrate exclusively on the firm’s AI and high-growth technology investments, including stakes in leading AI companies such as OpenAI and Anthropic.
The division will be led by senior executive Jas Khaira, who will relocate from New York to San Francisco and assume responsibility for the group previously known as Blackstone Growth. He succeeds Jon Korngold, who is departing following a period of mixed performance in the firm’s growth equity strategy.
Blackstone said the restructuring is designed to centralise its AI investment capabilities and strengthen coordination across its broader investment platforms, including private equity, growth capital, and opportunistic strategies.
According to internal communications cited by the firm, the new unit will act as a central hub for AI-related investing across the organisation, supporting both large-scale growth bets and infrastructure-focused opportunities tied to the expansion of artificial intelligence.
Blackstone Inc noted that artificial intelligence has become a core investment theme across its portfolio, with exposure spanning data infrastructure, digital infrastructure assets, and utilities linked to power demand from AI compute. The firm already operates one of the largest data centre platforms globally and has significant holdings across energy and infrastructure assets supporting AI workloads.
The creation of N1 follows a broader restructuring trend within Blackstone, which previously consolidated its credit and insurance operations into a single division to improve capital deployment efficiency. It also comes after challenges within the growth equity business, which raised multiple multibillion-dollar funds but faced headwinds as rising interest rates weighed on late-stage technology valuations.
Leadership of Blackstone’s broader growth and opportunistic strategies will remain unchanged outside the new AI-focused unit, with existing senior executives continuing to oversee adjacent platforms.
