Blackstone Names Snowflake CEO Frank Slootman as Senior Adviser

Blackstone Names Snowflake CEO Frank Slootman as Senior Adviser

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.

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