Blackstone Real Estate Head Nadeem Meghji Departs as BREIT Posts First Quarterly Net Inflow in Four Years

Nadeem Meghji, head of Blackstone's real estate division, has left the firm less than a year after taking full charge of the business. He had worked at Blackstone for nearly two decades. The company said he wanted to spend more time with his family. His departure follows the exit of former co-head Kathleen McCarthy in 2025, and the division has seen other senior real estate executive turnover in recent years. Blackstone has appointed David Levine and Giovanni Cutaia as his successors.

Blackstone's non-traded real estate investment trust, BREIT, faced sustained redemption pressure from late 2022, with investors seeking to withdraw money faster than the fund could comfortably provide and redemption limits remaining in place for more than a year. In early 2024, BREIT began meeting all redemption requests. In the second quarter of 2026, the fund recorded its first quarterly net inflow in four years, with a net return of 11% over the past 12 months. Blackstone manages more than 600 billion US dollars in real estate assets, and its BREP funds hold substantial available capital.

Days earlier, Blackstone's BCRED private credit fund limited repurchase requests to 5% of outstanding shares after receiving requests equal to about 10% of shares outstanding. BCRED is Blackstone's private credit fund. The redemption limit at BCRED came after BREIT's redemption situation improved. The personnel change in Blackstone's real estate division coincides with the improvement in BREIT's redemption status and the redemption limit at BCRED.