Key Takeaways
- • Blackstone has appointed Simona Maellare as head of wealth for EMEA, and she says the firm is "still near the beginning" of growth in private wealth across the region.
- • Maellare identifies fragmented European regulation as the biggest barrier to retail access to private markets, ahead of product availability.
- • Blackstone plans to expand its range of retail-eligible offerings in the region.
- • The interview, conducted by PEI's Carmela Mendoza, frames European private wealth as a long-duration growth opportunity for alternative managers.
Summary
Blackstone's newly appointed EMEA wealth head, Simona Maellare, says the firm's private wealth business in Europe, the Middle East and Africa remains at an early stage of development, according to an interview published by PEI Private Equity on 15 July 2026. Speaking with Carmela Mendoza, Maellare described the region as "still near the beginning" of the next wave of growth in wealth channels for alternative investments.
Maellare discussed plans to expand the firm's offering of retail-eligible products, indicating that Blackstone intends to add more vehicles designed for individual investors in the region. The interview centred on distribution rather than on specific fund sizes or performance figures, and the primary source does not disclose new capital targets.
A central theme was regulation. Maellare argued that fragmented European rules remain the largest obstacle to broader access for retail investors, as requirements differ across jurisdictions and complicate the design and distribution of cross-border products. For managers seeking to scale wealth channels in the region, this regulatory patchwork is a key constraint on the pace of growth.
The appointment and remarks signal Blackstone's continued focus on private wealth as a growth channel alongside its institutional franchise. Institutional allocators tracking the competitive landscape among large alternative managers may view the EMEA expansion as part of a broader push to tap individual investors.
Maellare discussed plans to expand the firm's offering of retail-eligible products, indicating that Blackstone intends to add more vehicles designed for individual investors in the region. The interview centred on distribution rather than on specific fund sizes or performance figures, and the primary source does not disclose new capital targets.
A central theme was regulation. Maellare argued that fragmented European rules remain the largest obstacle to broader access for retail investors, as requirements differ across jurisdictions and complicate the design and distribution of cross-border products. For managers seeking to scale wealth channels in the region, this regulatory patchwork is a key constraint on the pace of growth.
The appointment and remarks signal Blackstone's continued focus on private wealth as a growth channel alongside its institutional franchise. Institutional allocators tracking the competitive landscape among large alternative managers may view the EMEA expansion as part of a broader push to tap individual investors.
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