Brookfield hires ex-Blackstone executive to lead China PE

The appointment was reported by various Chinese media and has since been confirmed to AVCJ by a source close to the situation. A separate source said that Yang left Blackstone last September.

He spent nearly five years with the firm and enjoyed a six-year stint with TPG Capital, latterly as a principal, before that. Yang also worked for Olympus Capital Asia and Morgan Stanley earlier in his career.

Brookfield has $600 billion in assets under management globally, of which $8 billion is in China, primarily in real estate and renewable power. PE assets include two nuclear power facilities operated by Westinghouse and three automotive battery plants under industrials player Clarios.

The firm has $72 billion in private equity and closed a $9 billion fund in 2019. It is said to be looking to build out its exposure in Asia, having made several hires. The firm’s best-known deal in the region is arguably the $3.17 billion acquisition of Australian hospital operator Healthscope in 2019.

Blackstone recently announced a final close of $4.5 billion on its first global growth equity fund. The firm has $103 billion in private equity out of $619 billion globally. A debut Asia fund closed at $2.3 billion in 2019 and a target of $5 billion has reportedly been set for the successor vehicle.

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• Topics
• Greater China
• People
• GPs
• China
• Brookfield Asset Management
• The Blackstone Group
• Appointments