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Blackstone Announces Appointment of Kurt Summers, Former City Treasurer of Chicago, as Head of Public-Private Partnerships for Blackstone Infrastructure Partners
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Rhea-AI Summary
Blackstone Inc. (NYSE: BX) announced the appointment of Kurt Summers, Jr. as Head of Public-Private Partnerships in its Infrastructure business. Summers brings over 20 years of experience from both public and private sectors, focusing on investment strategies that align with local infrastructure goals and advance ESG efforts. His prior role as City Treasurer of Chicago saw him integrate ESG in investment decisions, achieving a carbon-neutral portfolio. Blackstone aims to enhance partnerships with local governments under his leadership.
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Kurt Summers appointed as Head of Public-Private Partnerships, bringing over 20 years of experience.
Focus on advancing ESG efforts and local infrastructure priorities.
Blackstone aims to strengthen partnerships with local and state governments.
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NEW YORK--(BUSINESS WIRE)--
Blackstone Inc. (NYSE: BX) today announced the appointment of Kurt Summers, Jr., former City Treasurer of Chicago, as Head of Public-Private Partnerships within Blackstone’s Infrastructure business. Kurt Summers has a more than twenty-year career spanning world-class institutions in both the private and public sectors, leveraging expertise in finance, institutional investing, complex problem-solving and market-leading innovation. In this role, Kurt will focus on investment strategies in partnership with local governments, civic and labor organizations, and broader stakeholders to help advance local infrastructure priorities, with a keen focus on advancing Blackstone Infrastructure’s Environmental, Social and Governance (ESG) efforts.
Commenting on the announcement, Sean Klimczak, Global Head of Infrastructure at Blackstone, said: “We’ve been pleased to have Kurt as an exceptional advisor to the firm and we are excited to welcome him to Blackstone Infrastructure Partners. His extensive experience across the public and private sectors as well as his expertise in ESG will be invaluable to us and our investors. Blackstone Infrastructure remains dedicated to partnering with local and state governments – they are vital to ensuring infrastructure projects achieve the goals of their communities and stakeholders – and we look forward to expanding on these efforts with Kurt.”
Commenting on the announcement, Kurt Summers, Jr., said: “I am excited to join Blackstone’s world class infrastructure team. Blackstone Infrastructure is an innovator in the sector, and as an investor, I look forward to partnering with government entities, asset owners, local communities, and other stewards of public assets to leverage Blackstone’s capital, experience and commitment to ESG to further develop American Infrastructure.”
Prior to joining Blackstone Infrastructure, Summers served as a Senior Advisor to Blackstone where he provided insight and strategic direction around various investment opportunities, capital strategies and existing portfolio companies. He also serves as an independent director of L&F Acquisition Corp. (NYSE: LNFA).
From 2014 to 2019, Summers served as Chicago’s City Treasurer. Summers oversaw the development of one of the most comprehensive Environmental, Social, and Governance (ESG) integration strategy of any major city in the world, integrating ESG into 100% of its investment decisions on corporate, agency and municipal fixed income securities. In addition, during his tenure as Treasurer, Chicago achieved a carbon-neutral investment portfolio and became a signatory to the United Nations-supported Principles for Responsible Investment. Summers also served as both Chairman of the Chicago Infrastructure Trust and Chairman of the Chicago Community Catalyst Fund, a first-of-its-kind $100 million local investment fund focused on smaller private equity, private debt, growth equity and real estate investments in Chicago neighborhoods.
Prior to becoming Treasurer of the City of Chicago, Summers served as a Senior Vice President at Grosvenor Capital Management, where he helped lead the firm’s strategy & business development efforts and served as a member of the Office of the Chairman. Summers began his career at McKinsey & Company and later worked as an investment banker at Goldman Sachs.
Summers received a Bachelor of Science in Business Administration with Management Distinction High Honors in Finance and International Business, with a minor in East Asian Studies, from Washington University in St. Louis. He also holds a Master of Business Administration from Harvard Business School.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
Who is Kurt Summers, and what is his role at Blackstone?
Kurt Summers, Jr. has been appointed as the Head of Public-Private Partnerships at Blackstone's Infrastructure business, focusing on investment strategies involving local governments.
What experience does Kurt Summers bring to Blackstone?
Summers has over 20 years of experience in both the private and public sectors, including serving as Chicago's City Treasurer, where he implemented comprehensive ESG strategies.
What are Blackstone's goals with the new appointment of Kurt Summers?
Blackstone aims to enhance investment strategies for local infrastructure priorities and strengthen its Environmental, Social and Governance (ESG) efforts.
What are the significant achievements of Kurt Summers as City Treasurer?
As City Treasurer of Chicago, Summers developed a carbon-neutral investment portfolio and integrated ESG into all investment decisions.
How does Kurt Summers plan to leverage Blackstone's resources for infrastructure development?
Summers plans to collaborate with government entities and stakeholders to utilize Blackstone's capital and experience to further American infrastructure projects.
