Seeking to boost its expertise in the aerospace and defense industry, the private equity firm Blackstone [BX] yesterday said it has hired former Boeing [BA] executive Jim Albaugh as a senior advisor.
Albaugh at one time led Boeing’s $30 billion-plus segment and ended his career with the company last year after leading its $30 billion-plus commercial aircraft division.
“Jim’s addition to our team strengthens our expertise in the aerospace and defense sector and will help us pursue attractive opportunities on behalf of our limited partners,” Joe Baratta, global head of Blackstone, said in a statement.
A review of Blackstone’s portfolio of equity investments on the firm’s website shows no holdings in the aerospace and defense sector currently.