Baratta has led Blackstone’s flagship private-equity business for years, helping oversee one of the world’s largest pools of institutional capital.
His potential departure would mark a major leadership change for Blackstone and could prompt investors to watch closely for shifts in strategy, management and succession planning.
The firm has not publicly announced Baratta’s exit, and the timing and circumstances of any transition remain unclear.
Baratta joined Blackstone in 1998 and became a central figure in the company’s expansion across corporate acquisitions and private markets.
Blackstone, which manages more than $1 trillion in assets across its businesses, has increasingly emphasized growth beyond traditional buyouts as higher interest rates and tighter financing conditions reshape the industry.
Any change at the top of its private-equity division could carry implications for deal activity, fundraising and the firm’s approach to deploying capital in a more challenging market.