Asset management giant Blackstone has promoted one of its own to chief administrative officer and global head of investor relations and business development, a newly created role.
The $545 billion asset manager announced Monday that Vik Sawhney, who was serving as chief operating officer of its private equity business, will begin working in the role as of January 1, 2020.
Sawhney will continue to oversee the firm’s capital markets business while partnering with its business groups, regional offices, and support teams to further integrate the firm, according to the announcement. He will also oversee Blackstone’s limited partner relationships.
“He has earned the strong trust of our Limited Partners and is widely respected throughout Blackstone for the strength of his relationships as well as his judgment and integrity,” Jon Gray, president and chief operating officer of the firm, said of Sawhney in a statement. “In this new role, he’ll help us continue to deepen the integration of our firm across business lines and continually do more for our investors.”
Sawhney will report to Gray, according to the announcement. Before joining Blackstone in 2007, Sawhney worked as managing director in the financial sponsors group at Deutsche Bank, where he managed the firm’s relationships with Blackstone, among other firms, according to Blackstone’s website.
Robert Ramsauer, senior managing director in Blackstone’s private equity group in London, will succeed Sawhney as the COO of Blackstone's private equity business. Ramsauer joined the firm in 2004 after working at Credit Suisse First Boston in London, according to Blackstone’s website.
“[Ramsauer] has exceptionally strong management and people skills and has a thorough understanding of our business,” said Joe Baratta, Blackstone’s global head of private equity, in a statement. “He is the ideal choice to step into Vik’s shoes and support the management of our outstanding private equity business.”