Blackstone veteran Paul M. Kelly has been tapped to lead DWS’s alternatives business globally.
Kelly becomes global head of its €126 bn alternatives franchise, which includes its €75 bn real estate platform, infrastructure in which it has €16 bn, liquid real assets (€32 bn) and a footprint in sustainable investments.
Stefan Hoops, CEO at DWS said: ‘Paul is an industry veteran with an extensive track record across private and public markets, and we are pleased to have him join DWS to lead our Alternatives franchise.’
‘We expect that, despite near-term market volatility, alternatives will continue its growth trajectory, fuelled by the rise in retail demand and the attractive yield opportunities presented in areas such as real assets and private credit.’
‘Given our deep heritage in real estate and infrastructure, access to middle market lending, and strong retail network, we are well positioned to succeed in this area of strategic focus. With Paul at the helm, together with our experienced Alternatives leadership team, we can deliver on the compelling growth potential of this business.’
Kelly was a senior managing director and COO of Blackstone’s credit division. Prior to Blackstone, he spent nearly 20 years at JPMorgan.
He said DWS had a ‘robust foundation to capture future growth in private markets’.