BISNOW: It is the biggest job in real estate, and you are taking over from someone with a 13-year run of unbroken success. Feeling nervous? “I wasn’t until you asked that,” Blackstone’s new real estate co-head, Ken Caplan, said, laughing. Sitting next to him on the 43rd floor of the firm’s Park Avenue HQ is fellow co-head Kathleen McCarthy. The pair are now on month two of running the world’s largest manager of real estate, with total assets of $115B stretching from the U.S. West Coast via Europe to South East Asia and Australia.