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Blackstone Head of Private Credit in Europe and APAC to quit

Paulo Eapen, Blackstone’s Head of Private Credit for Europe and APAC, is to leave the firm after 17 years, according to a report by Bloomberg citing a company spokesman as confirming his departure by the end of the year.

Over the past decade, Eapen, who first joined GSO Capital Partners in 2007, which was later acquired by Blackstone and subsequently rebranded as Blackstone Private Credit in 2020, has played a major role in building private credit markets outside of the US.

According to Blackstone’s spokesperson, he is leaving for personal reasons, with his departure coming as the firm is making wider changes to its credit business. Groups that invest in corporate credit and asset-based finance as well as a business that manages money for insurers, have been consolidated under one leadership structure.

As part pf the changes, insurance chief Gilles Dellaert, has been promoted to lead the new $300bn combined unit, while Credit Head Dwight Scott, will become chairman of the business with a focus on key clients and the strategy for the division’s operations in Europe.

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