Blackstone Digital Infrastructure Trust (BXDC)

Stephen A. Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world’s leading investment firms with $1.3 trillion Assets Under Management (as of December 31, 2025). Mr. Schwarzman has been involved in all phases of Blackstone’s development since its founding in 1985. The firm has established leading investing businesses across asset classes, including private equity, where it is a global leader in traditional buyout, growth equity, special situations and secondary investing; real estate, where it is currently the largest owner of commercial property in the world; hedge fund solutions, where it is the world’s largest discretionary hedge fund investor; and credit, where it is a global leader and major provider of credit for small, middle-market and other companies. Blackstone also has major businesses dedicated to infrastructure and life sciences investing, as well as delivering the firm’s investment management expertise and products to insurance companies.

Mr. Schwarzman is an active philanthropist with a history of supporting education, as well as culture and the arts, among other things. In 2020, he signed The Giving Pledge, committing to give the majority of his wealth to philanthropic causes. In both business and philanthropy, Mr. Schwarzman has dedicated himself to tackling big problems with transformative solutions. In June 2019, he donated £150 million to the University of Oxford to help redefine the study of the humanities for the 21st century. His gift – the largest single donation to Oxford since the renaissance – will create a new Centre for the Humanities which unites all humanities faculties under one roof for the first time in Oxford’s history, and will offer new performing arts and exhibition venues as well as a new Institute for Ethics in AI. In October 2018, he announced a foundational $350 million gift to establish the MIT Schwarzman College of Computing, an interdisciplinary hub which will reorient MIT to address the opportunities and challenges presented by the rise of artificial intelligence, including critical ethical and policy considerations to ensure that the technologies are employed for the common good. In 2015, Mr. Schwarzman donated $150 million to Yale University to establish the Schwarzman Center, a first-of-its-kind campus center in Yale’s historic “Commons” building, and also gave a founding gift of $40 million to the Inner-City Scholarship Fund, which provides tuition assistance to underprivileged children attending Catholic schools in the Archdiocese of New York. In 2013, he founded an international scholarship program, “Schwarzman Scholars,” at Tsinghua University in Beijing to educate future leaders about China. At over $575 million, the program is modeled on the Rhodes Scholarship and is the single largest philanthropic effort in China’s history coming largely from international donors. Mr. Schwarzman is Co-Chair of the Board of Trustees of Schwarzman Scholars. In 2007, Mr. Schwarzman donated $100 million to the New York Public Library on whose board he serves.

In 2019, Schwarzman published his first book What It Takes: Lessons in the Pursuit of Excellence, a New York Times Best Seller which draws from his experiences in business, philanthropy and public service.

Mr. Schwarzman is a member of The Council on Foreign Relations, The Business Council, The Business Roundtable, and The International Business Council of the World Economic Forum. He is a former co-chair of the Partnership for New York City and serves on the boards of The Asia Society and New York-Presbyterian Hospital, as well as on The Advisory Board of the School of Economics and Management at Tsinghua University, Beijing. He is a Trustee of The Frick Collection in New York City and Chairman Emeritus of the Board of Directors of The John F. Kennedy Center for the Performing Arts. In 2007, Mr. Schwarzman was included in TIME’s “100 Most Influential People.” In 2016, he topped Forbes Magazine’s list of the most influential people in finance and in 2018 was ranked in the Top 50 on Forbes’ list of the “World’s Most Powerful People.” The Republic of France has awarded Mr. Schwarzman both the Légion d’Honneur and the Ordre des Arts et des Letters at the Commandeur level. Mr. Schwarzman is one of the only Americans to receive both awards recognizing significant contributions to France. He was also awarded the Order of the Aztec Eagle, Mexico’s highest honor for foreigners, for his work on behalf of the U.S. in support of the U.S.-Mexico-Canada Agreement in 2018. Also, at the University of Oxford, Mr. Schwarzman was elected a Wykeham Fellow at New College in 2021 and a Waynflete Fellow at Magdalen College in 2023.

Mr. Schwarzman holds a B.A. from Yale University and an M.B.A. from Harvard Business School. He has served as an adjunct professor at the Yale School of Management and on the Harvard Business School Board of Dean’s Advisors.

Jonathan (“Jon”) Gray is President & Chief Operating Officer of Blackstone and is a member of the Board of Directors. He sits on the firm’s Management Committee and nearly all of its investment committees.

Mr. Gray was appointed to his current role in 2018. Since that time, Blackstone’s assets under management have nearly tripled to $1.3T, as the firm has greatly expanded the breadth of clients it serves, including insurance companies and individual investors.

Mr. Gray previously led Blackstone’s Real Estate business, which he helped build into the largest commercial real estate platform in the world. He joined Blackstone in 1992 in the M&A and Private Equity areas.

Mr. Gray has served as Chairman of the Board of Directors of Hilton Worldwide since 2007, and is also on the board of XRG.

He and his wife, Mindy, established the Basser Center for BRCA at the University of Pennsylvania School of Medicine in 2012 focused on the prevention and treatment of BRCA-related cancers. They have also established numerous programs for low-income children in New York, including creating NYC Kids RISE, a college savings initiative provided to every NYC public school kindergartner. The Grays have been named to The Chronicle of Philanthropy’s list of the largest donors in the U.S.

Mr. Gray received a BS in Economics from the Wharton School, as well as a BA in English from the College of Arts and Sciences at the University of Pennsylvania.

Michael S. Chae is Vice Chairman and the Chief Financial Officer of Blackstone. He is a member of the firm’s Management Committee and investment committees across most of the firm’s businesses. Since joining Blackstone in 1997, Mr. Chae has served in a broad range of leadership roles including Head of International Private Equity, Head of Private Equity for Asia Pacific, and as a senior partner in the U.S. Private Equity business, where he led numerous Blackstone investments and served on the boards of many private and publicly traded portfolio companies.

Mr. Chae received an AB from Harvard College, an MPhil. in International Relations from Cambridge University, and a JD from Yale Law School. Mr. Chae serves on the boards of the Harvard Management Company, the Robin Hood Foundation, and the Asia Society. He is a Trustee Emeritus and the former Board President of the Lawrenceville School. He is a member of the Council on Foreign Relations and founded the Chae Initiative in Private Sector Leadership at Yale Law School.

Kenneth A. Caplan is the Global Co-Chief Investment Officer of Blackstone. As Co-CIO, he works in conjunction with business unit CIOs and Group Heads to provide additional firm-level investment oversight, primarily across Real Estate and Credit & Insurance (BXCI).

Mr. Caplan previously served as Global Co-Head of Blackstone Real Estate. Blackstone is the largest owner of commercial real estate and an industry leader in opportunistic, core plus and debt investing across North America, Europe and Asia.

Prior to becoming Global Co-Head of Blackstone Real Estate, Mr. Caplan served as Global Chief Investment Officer of Blackstone Real Estate and Head of Real Estate Europe. Since joining the firm in 1997, Mr. Caplan has been involved in over $100 billion of real estate acquisitions and initiatives in the United States, Europe and Asia. These include major acquisitions such as Equity Office Properties, Hilton Hotels, Logicor and GE Real Estate.

Before joining Blackstone, he was at Lazard Freres & Co. in the real estate investment banking group. Mr. Caplan received an AB in Economics from Harvard College, where he graduated magna cum laude, was elected to Phi Beta Kappa and was a John Harvard Scholar. He currently serves on the Board of Trustees of Prep for Prep.

Greg Blank is the Chief Executive Officer of Blackstone Infrastructure Strategies (BXINFRA) and a Senior Managing Director in the Infrastructure group where he focuses on investments in the Digital Infrastructure sector. Since joining Blackstone, Mr. Blank has worked in both the New York and Hong Kong offices in the Private Equity and Infrastructure groups; and has been involved in the execution of numerous Blackstone investments, including QTS Realty Trust, Signature Aviation, AirTrunk, a data center joint venture with Digital Realty, Phoenix Tower International, Hotwire Communications, NCR, Kronos, Paysafe, Blue Yonder, Ipreo, and Optiv.

Prior to joining Blackstone, Mr. Blank was an Associate at Texas Pacific Group (TPG) in San Francisco where he was involved in the evaluation and execution of private equity transactions. Prior to that, Mr. Blank worked in investment banking at Goldman, Sachs & Co. focused on Technology, Media and Telecommunications clients.

Mr. Blank received an AB in Economics from Harvard College, where he graduated magna cum laude and was elected to Phi Beta Kappa. Mr. Blank also earned an MBA with High Distinction from the Harvard Business School, where he graduated as a Baker Scholar. Mr. Blank serves on the Board of Directors of QTS Realty Trust, Signature Aviation, and AirTrunk.

In 2025, Mr. Blank was selected as a Fellow of the eighth class of the Finance Leaders Fellowship Program of the Aspen Institute and a member of the Aspen Global Leadership Network.

Giovanni Cutaia is the President of Blackstone Real Estate. Blackstone is the largest owner of commercial real estate globally and an industry leader in opportunistic, core plus and debt investing across North America, Europe and Asia. As President of Blackstone Real Estate, Gio oversees key strategic, operational and client-facing areas to ensure the business operates at the highest standard globally for the benefit of our clients and the firm.

Prior to joining Blackstone in 2014, Mr. Cutaia was at Lone Star Funds where he was a Senior Managing Director and Co-Head of Commercial Real Estate Investments Americas. Prior to Lone Star, Mr. Cutaia spent over 12 years at Goldman Sachs in its Real Estate Principal Investments Area as a Managing Director in its New York and London offices.

Mr. Cutaia received a BA from Colgate University and an MBA from the Tuck School of Business at Dartmouth College.

Michael Diverio serves as a member of our board of directors. Mr. Diverio is a Senior Managing Director in Blackstone’s Infrastructure Group, where he focuses on investments in the digital infrastructure and transportation sectors. Since joining Blackstone in 2020, he has been involved in the execution of investments in QTS, AirTrunk, Signature Aviation, Rowan Digital, Phoenix Tower International, and the Digital Realty and American Real Estate Partners joint ventures. Prior to joining Blackstone, Mr. Diverio worked in corporate private equity, most recently at Apollo Global Management, where he was involved in the investments in Direct ChassisLink, Blume Global, and Qdoba Mexican Eats. Mr. Diverio began his career at Morgan Stanley in the investment banking division. He currently serves on the boards of directors of QTS, AirTrunk, Phoenix Tower International, and Signature Aviation, and as a member of the board of trustees of The Hun School of Princeton. Mr. Diverio received a BS in Business Administration from Washington & Lee University, where he graduated magna cum laude, and received an MBA from Harvard Business School.

Mike Forman serves as our Chief Investment Officer. Mr. Forman is a Senior Managing Director of Blackstone and the Head of Americas Acquisitions and Global Head of Digital Infrastructure for Blackstone Real Estate. Since joining Blackstone in 2012, Mr. Forman has been involved in investments across several asset classes, including QTS, AirTrunk, Digital Realty, Lumina CloudInfra, COPT Defense Properties, Retail Opportunities Investment Corp, Perform Properties, Sunset Studios, and the creation and eventual IPO of Invitation Homes. He currently serves on the boards of directors of QTS, AirTrunk, the David Lynch Foundation and the Worthless Foundation. Mr. Forman received a dual BA in Mathematical Methods in the Social Sciences and Economics from Northwestern University, where he graduated with honors, and completed the Kellogg Financial Economics program.

Rob Harper is Head of Real Estate Asset Management Americas.

Since joining Blackstone in 2002, Mr. Harper has been involved in analyzing Blackstone’s real estate equity and debt investments in all property types. Mr. Harper has previously worked for Blackstone in Los Angeles and London, where he served as Head of Europe for the Blackstone Real Estate Debt Strategies business.

Prior to joining Blackstone, Mr. Harper worked for Morgan Stanley’s real estate private equity group in Los Angeles and San Francisco.

Mr. Harper received a BS from the McIntire School of Commerce at the University of Virginia. Mr. Harper currently serves as a board member for the World Monuments Fund and the McIntire School of Commerce Foundation Board at the University of Virginia. His prior board memberships include Invitation Homes, Park Hotels & Resorts and Extended Stay America.

Katie Keenan serves as the Chair of our board of directors. She is a Senior Managing Director of Blackstone Real Estate and the Global Head of Blackstone’s Core+ Real Estate business. Ms. Keenan has been with Blackstone since 2012 and has served as the Chief Executive Officer and a director of BREIT since 2025. She was the Chief Executive Officer and a director of BXMT from 2021 to 2025 and also served as President from 2020 to 2025. Ms. Keenan is a member of Blackstone Real Estate’s Investment Committee and previously served as the Global Co-Chief Investment Officer of BREDS. Before joining Blackstone, Ms. Keenan held positions at G2 Investment Group, Lubert-Adler Real Estate Funds and in the Real Estate Investment Banking Group at Lehman Brothers. She is a member of the board of directors of Getting Out and Staying Out and the Nareit Advisory Board of Governors. She is also a member of WX New York Women Executives in Real Estate and was a 2025 Partnership for New York City David Rockefeller Fellow. Ms. Keenan graduated cum laude with an AB in History from Harvard College.

David Levine is Head of Blackstone Real Estate Americas and a member of Blackstone Real Estate’s global investment committee. Mr. Levine is responsible for day-to-day management of the Real Estate group’s investments activities and personnel in the Americas.

Mr. Levine joined Blackstone in 2010 and is based in New York. Mr. Levine previously served as Co-Head of Americas Acquisitions for Blackstone Real Estate and has played a leadership role across Blackstone’s opportunistic and core plus real estate investing strategies.

Mr. Levine graduated from Northwestern University, where he received a BA in Economics. He also serves on the board of Reading Partners New York.

Nadeem Meghji is the Global Head of Blackstone Real Estate. Blackstone is the largest owner of commercial real estate globally and an industry leader in opportunistic, core plus and debt investing across North America, Europe and Asia.

Mr. Meghji previously served as Head of Real Estate Americas and has played a leadership role in Blackstone Real Estate’s investment activity in the region. Mr. Meghji joined Blackstone in 2008.

Mr. Meghji received a BS in Electrical Engineering from Columbia University, where he graduated summa cum laude. He received a JD from Harvard Law School and an MBA from Harvard Business School. Mr. Meghji was named a World Economic Forum Young Global Leader in 2018 and serves as a board member for the Lupus Research Alliance.

Nick Pell serves as our Chief Executive Officer and President and is a member of our board of directors. Mr. Pell previously served as the President and Chief Investment Officer of Link Logistics, a Blackstone portfolio company, from 2019 to 2026. Before joining Link Logistics, Mr. Pell held various positions at Gramercy Property Trust, an investor in and asset manager of industrial and office real estate, including as Chief Investment Officer from 2016 to 2019. Mr. Pell also previously served as a director in the investment department at W. P. Carey & Co., as a director of business development at Sony Pictures Entertainment and as an analyst at J.P. Morgan & Co. Mr. Pell received a BA in Economics from Duke University and an MBA from Harvard Business School.

Jacob Werner is the Global Chief Investment Officer for Blackstone Real Estate and a member of Blackstone Real Estate’s global investment committee. Blackstone is the largest owner of commercial real estate globally and an industry leader in opportunistic, core plus and debt investing across North America, Europe and Asia.

Since joining Blackstone in 2005, Mr. Werner has held a number of leadership positions within Blackstone Real Estate, including previously serving as Co-Head of Americas Acquisitions and has been involved in more than $100 billion of real estate investments across numerous property sectors.

Mr. Werner received a BS from the McIntire School of Commerce at the University of Virginia where he graduated with distinction and currently serves on the board of the Nicklaus Children’s Hospital Foundation.

Katie Keenan serves as the Chair of our board of directors. She is a Senior Managing Director of Blackstone Real Estate and the Global Head of Blackstone’s Core+ Real Estate business. Ms. Keenan has been with Blackstone since 2012 and has served as the Chief Executive Officer and a director of BREIT since 2025. She was the Chief Executive Officer and a director of BXMT from 2021 to 2025 and also served as President from 2020 to 2025. Ms. Keenan is a member of Blackstone Real Estate’s Investment Committee and previously served as the Global Co-Chief Investment Officer of BREDS. Before joining Blackstone, Ms. Keenan held positions at G2 Investment Group, Lubert-Adler Real Estate Funds and in the Real Estate Investment Banking Group at Lehman Brothers. She is a member of the board of directors of Getting Out and Staying Out and the Nareit Advisory Board of Governors. She is also a member of WX New York Women Executives in Real Estate and was a 2025 Partnership for New York City David Rockefeller Fellow. Ms. Keenan graduated cum laude with an AB in History from Harvard College.

Nick Pell serves as our Chief Executive Officer and President and is a member of our board of directors. Mr. Pell previously served as the President and Chief Investment Officer of Link Logistics, a Blackstone portfolio company, from 2019 to 2026. Before joining Link Logistics, Mr. Pell held various positions at Gramercy Property Trust, an investor in and asset manager of industrial and office real estate, including as Chief Investment Officer from 2016 to 2019. Mr. Pell also previously served as a director in the investment department at W. P. Carey & Co., as a director of business development at Sony Pictures Entertainment and as an analyst at J.P. Morgan & Co. Mr. Pell received a BA in Economics from Duke University and an MBA from Harvard Business School.

Michael Diverio serves as a member of our board of directors. Mr. Diverio is a Senior Managing Director in Blackstone’s Infrastructure Group, where he focuses on investments in the digital infrastructure and transportation sectors. Since joining Blackstone in 2020, he has been involved in the execution of investments in QTS, AirTrunk, Signature Aviation, Rowan Digital, Phoenix Tower International, and the Digital Realty and American Real Estate Partners joint ventures. Prior to joining Blackstone, Mr. Diverio worked in corporate private equity, most recently at Apollo Global Management, where he was involved in the investments in Direct ChassisLink, Blume Global, and Qdoba Mexican Eats. Mr. Diverio began his career at Morgan Stanley in the investment banking division. He currently serves on the boards of directors of QTS, AirTrunk, Phoenix Tower International, and Signature Aviation, and as a member of the board of trustees of The Hun School of Princeton. Mr. Diverio received a BS in Business Administration from Washington & Lee University, where he graduated magna cum laude, and received an MBA from Harvard Business School.

Thomas A. Bartlett is expected to serve as a member of our board of directors. Mr. Bartlett previously held senior leadership positions at American Tower Corporation, a global digital infrastructure company, serving as President and Chief Executive Officer from 2020 until his retirement in 2024 and Executive Vice President and Chief Financial Officer from 2009 to 2020. Prior to joining American Tower, Mr. Bartlett served as Senior Vice President and Corporate Controller of Verizon Communications, where, during his 25-year career with Verizon and its predecessor companies and affiliates, he also served in numerous operations and business development roles, including as President and Chief Executive Officer of Bell Atlantic International Wireless from 1995 to 2000. Mr. Bartlett currently serves on the boards of directors of Otis Worldwide Corporation, ExlService Holdings, Inc., and The Hartford Insurance Group, Inc. He was previously a director of Equinix, Inc. from 2013 to 2021. Mr. Bartlett earned his BS in Industrial Engineering from Lehigh University and has experience as a Certified Public Accountant. He obtained his MBA from Rutgers University.

Christopher C. Capossela is expected to serve as a member of our board of directors. Mr. Capossela held various positions at Microsoft Corporation over his 33-year career from 1991 to 2023, including 11 years as Executive Vice President and Chief Marketing Officer. Mr. Capossela has been a member of the board of directors of Lumen Technologies, Inc. since 2024, where he serves on the audit committee and the human resources and compensation committee. He also serves as a director of Formlabs and the United States Tennis Association. Mr. Capossela received a BA in Economics and Computer Science from Harvard College.

Diane M. Morefield is expected to serve as a member of our board of directors. Ms. Morefield served as Executive Vice President and Chief Financial Officer of CyrusOne Inc., a formerly publicly traded global data center REIT acquired by KKR and Global Infrastructure Partners in 2022, from 2016 to 2020. Prior to joining CyrusOne, from 2010 to 2015, she served as Executive Vice President and Chief Financial Officer of Strategic Hotels & Resorts, a formerly publicly traded hotel REIT that was sold to Blackstone in 2015. From 2007 to 2009, Ms. Morefield served as the Chief Financial Officer of Equity International, and from 1997 to 2006, she served in several executive leadership roles at Equity Office, including service as Senior Vice President of Operations and Senior Vice President of Investor Relations. She started her career in public accounting and previously worked at Barclays Bank as a real estate banker. Ms. Morefield currently serves on the boards of directors of Copart, Inc., where she serves as a member of the audit committee and chair of the nominating, governance and sustainability committee; UDR, Inc., where she serves as chair of the audit committee and as a member of the nominating and governance committee and Suntex Marina Investors LLC, where she serves as chair of the audit committee. Ms. Morefield previously served as a director and chair of the audit committee of Spirit Realty Capital, a triple-net lease REIT, and as a director of Link Logistics. Ms. Morefield earned her BS in Accountancy from the University of Illinois and is a Certified Public Accountant. She obtained her MBA from the University of Chicago Booth School of Business.

Mark L. Myers is expected to serve as a member of our board of directors. Mr. Myers served as Executive Vice President and head of Wells Fargo’s Commercial Real Estate (CRE) group from 2011 until his retirement in 2020. During his almost 40-year tenure at Wells Fargo, Mr. Myers held a number of senior positions in the Real Estate, Corporate, Capital Markets and Special Situation groups and was a member of the firm’s management committee. Mr. Myers is currently a member of the advisory board of Aareal Bank AG and a member of the board of directors of Aareal Capital Corporation. He served on the board of trustees of the Internal Council of Shopping Centers (ICSC), as a trustee of the Urban Land Institute (ULI), and as a member of the Real Estate Roundtable, and he was on the policy advisory board executive committee of the Fisher Center for Real Estate at the University of California, Berkeley. Mr. Myers earned his BS from the University of California, Berkeley, Haas School of Business and MBA from the University of Oregon.