Blackstone opens Singapore office
The Blackstone Group has opened an office in Singapore, extending its footprint into Southeast Asia. The move comes as global private equity firms place increased emphasis on the region.
Blackstone has more than $5 billion deployed in Asia, of which $3.05 billion is in real estate. This includes the StarHub business park in Singapore.
"With the help of this new regional hub we are in an exceptional position to continue to grow, perform, invest, and deliver on our commitments for the future" Stephen Schwarzman (pictured), Blackstone's CEO, chairman, and co-founder, said in a statement.
Alan Miyasaki, Blackstone's senior managing director for real estate, Kishore Moorjani, managing director of the tactical opportunities team and Pithambar Gona from Blackstone's private equity unit will be based in Singapore.
Last October, KKR opened an office in Singapore - its seventh in Asia - and initially relocated eight private equity professionals there. The Carlyle Group, TPG Capital and CVC Capital already have local operations, while it has been reported that Bain Capital and Warburg Pincus are expanding their Southeast Asia teams.
The Singapore office is Blackstone's 24th globally and eighth in Asia, following Hong Kong, Beijing, Shanghai, Mumbai, Seoul, Tokyo and Sydney. It will be the firm's second office with treasury functions after New York.
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