Kathleen McCarthy, Blackstone's global co-head of real estate, announced her departure from the firm at the end of the year, according to reports. Her exit marks the end of a 15-year tenure during which she played a significant role in expanding Blackstone's real estate business. She posted about her decision on LinkedIn, stating it was time for her "next chapter" and reflecting on the privilege of leading Blackstone Real Estate, praising the team's growth and transformation.
Following McCarthy's departure, Nadeem Meghji, currently co-head of real estate alongside her, will assume the role of sole global head of the real estate unit. Meghji, an 18-year veteran at Blackstone, has overseen all worldwide investment activity for the firm for two years and previously led Blackstone Real Estate Americas for seven years. Blackstone's real estate business currently manages approximately $320 billion in assets under management, comprising a significant portion of the firm's total assets.
McCarthy joined Blackstone in 2010 from Goldman Sachs' real estate investment business. During her time, she helped oversee the growth of the firm's real estate assets under management from $115 billion to $320 billion. She served as real estate chief operating officer before becoming global co-head in 2018. Her departure comes as Blackstone's real estate sector, which called the market bottom in early 2024, has seen gradual improvement, with $16.9 billion in real estate sold in the first nine months of 2025.
Her next career move remains undisclosed. Industry observers will be keenly watching her next steps, given her prominent role as one of Wall Street’s highest-ranking female executives and a powerful figure in global real estate investing. She expressed gratitude to Blackstone CEO Stephen Schwarzman and President Jon Gray for their mentorship and support.
