Blackstone Group Inc. named Snowflake Inc. Chief Executive Officer Frank Slootman as its senior adviser reports Bloomberg Quint. Slootman will help Blackstone’s portfolio companies with a focus on its platform for investing in fast-growing firms.
- Blackstone, the world’s largest alternative asset manager, seeks to bolster its investments in emerging companies poised to benefit from changing consumer behaviors.
- Blackstone’s growth-focused platform, which debuted in 2019, has almost 30 employees in New York, San Francisco, and London.
- Recent Blackstone investments include dating app Bumble and Oatly AB, the Swedish maker of vegan food and drinks.
- Slootman selection by Blackstone reflects his more than 25 years of experience in the enterprise software industry, including as CEO of cloud-computing firm ServiceNow Inc.
- Slootman led Snowflake’s initial public offering in September, the largest for a software maker at the time.
Blackstone’s stock is currently gaining. BX: NYSE is up 0.67% on premarket.
