Blackstone names Carnegie Australia PE head
The Blackstone Group has appointed James Carnegie as a senior managing director in its Sydney office from where he is expected to lead private equity activities in Australia.
Carnegie, who reports to Michael Chae, Blackstone's head of Asia Pacific private equity, joined the company as a senior advisor in 2012. He previously spent seven years with Archer Capital until mid-2011 and before that worked at Macquarie Capital.
His appointment comes one month after the resignation of Paul Costello, Blackstone's non-executive chairman for Australia and New Zealand. Costello was formerly chairman of Australia's Future Fund and the New Zealand Superannuation Fund.
While Blackstone has built up a sizeable Australia property portfolio, it has been less active on the private equity front. According to AVCJ Research, the firm's only Australasian acquisition is Antares Restaurant Group - holder of the Burger King franchise in New Zealand - which was bought from Anchorage Capital Partners in 2011.
Blackstone came close to buying Australian chicken producer Inghams Enterprises last year but lost out to TPG Capital following a protracted bidding process.
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