Blackstone Names Snowflake CEO Frank Slootman as Senior Adviser

(Bloomberg) -- Blackstone Group Inc. named Snowflake Inc. Chief Executive Officer Frank Slootman as a senior adviser.

Slootman, who’s retaining his post at the software maker, will assist Blackstone’s portfolio companies, with a particular focus on its platform for investing in fast-growing firms, the asset manager said Wednesday in an emailed statement.

“Given this period of high growth and innovation, Blackstone is well positioned to help entrepreneurs realize their potential and execute on their visions,” Slootman said in the statement.

Slootman led Snowflake’s initial public offering in September, the largest for a software maker at the time. He has more than 25 years of experience in the enterprise software industry, including as CEO of cloud-computing firm ServiceNow Inc.

See also: Snowflake Soars Into Tech Big Leagues With $70 Billion Value

Blackstone, the world’s largest alternative asset manager, is seeking to bolster its investments in emerging companies poised to benefit from changing consumer behaviors. Its growth-focused platform, which debuted in 2019, has almost 30 employees in New York, San Francisco and London. Recent investments include dating app Bumble and Oatly AB, the Swedish maker of vegan food and drinks.