Mark Burton, who previously spent 11 years at Goldman Sachs Group Inc., has been appointed by an American multinational private equity firm Blackstone Group LP to oversee the private equity firm’s real estate secondaries business.
Burton, who previously spent 11 years at Goldman Sachs Group Inc. (GS:US), will be a principal in Blackstone’s Strategic Partners business, according to a statement today from the New York-based firm. At H/2 Burton was a managing director focusing on distressed commercial mortgage investments.
Blackstone acquired the Strategic Partners unit last year from Credit Suisse Group AG (CSGN), expanding its traditional buyout business to include the practice of buying and selling stakes in private-equity funds. The market for secondary fund stakes is expected to grow in the next year as heightened regulatory measures such as the Volcker Rule lead banks to dispose of their private-equity investments to raise capital, according to a report last month from research firm Preqin Ltd.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Mark Burton, Goldman Sachs, Goldman Sachs Group Inc., Blackstone, Blackstone Group LP, Volcker Rule, Preqin Ltd.