Jon Korngold has been busy building out a division within Blackstone dedicated to investing in fast-growing companies.
Business Insider spoke with more than a dozen people who know Korngold to learn more about the 45-year-old investor behind Blackstone Growth, or “BXG” for short.
Fresh off purchasing a $3 billion controlling stake in the owner of dating app Bumble, Korngold, who joined Blackstone in January, says he’d like to do four to five deals a year, writing checks between $200 million and $500 million.
People close to him say his ability to connect with founders and entrepreneurs suits him well in tracking down future opportunities.
Click here to read more BI Prime stories.
Jon Korngold has long perplexed colleagues with his ability to cram his calendar.
He spent 18 years at General Atlantic, a firm known as the “gold standard” for growth equity, where he was personally involved in deals with Adyen, the Amsterdam-based payment company; Qualicorp, the Brazilian healthcare insurance group; and ControlExpert, the German auto insurance service provider.
Then, in January, he joined asset management giant Blackstone to lead an ambitious new growth equity push, charged with finding fast-growing companies to write big checks to. He’s fresh off his first investment at his new firm, co-leading a deal earlier this month to acquire a $3 billion controlling stake in MagicLab, the owner of dating app Bumble.
He is also on the board of trustees of the 92nd Street Y, an Upper East Side institution known for its star-studded line-up of community events.
Plus, he’s on the board of trustees at The Dalton School, the New York City prep school that graduated Chevy Chase and Anderson Cooper, as well as the Central Park Conservancy, a non-profit that maintains the most-visited park in the United States.
“I would challenge you to find a guy who is …read more
Source:: Business Insider