Blackstone hires Morgan Stanley’s Ed Huang
The Blackstone Group has hired Ed Huang from Morgan Stanley Private Equity Asia (MSPEA) as a managing director for China. The appointment, confirmed to AVCJ by sources familiar with the situation, reflects Blackstone's ongoing efforts to build out its business in Asia.
Huang is responsible for Greater China coverage, working alongside Yi Luo, a senior managing director and a dealmaker who joined Blackstone last year from The Carlyle Group.
According to Reuters, Huang was heavily involved in the privatization of Sihuan Pharmaceutical Holdings, which was one of MSPEA's most successful private equity deals in Asia. In 2009, MSPEA took Sihuan private in Singapore before relisting the company in Hong Kong in October 2010.
Prior to joining MSPEA in 2003, Huang began his career in investment banking with Merrill Lynch in New York.
Blackstone's Asia Pacific team is headed by Michael Chae, who relocated to Hong Kong from New York in late 2010. He took responsbility for relationships with LPs while Ben Jenkins, a senior managing director, oversaw transactions across the region. Jenkins left Blackstone at the end of 2011 and returned to New York.
Speaking at a summit in Hong Kong last December, Chae said that China and Southeast Asia will be the firm's investment focus in 2012, referencing the consumer growth that the geographies are expected to see this year.
Earlier last week, Blackstone also announced that Jon Gray has joined its board of directors. Gray, who joined the firm in 1992, is global head of real estate. Blackstone has reportedly raised more than $10 billion for its latest real estate fund, Blackstone Real Estate Partners VII, and is looking to reach $12 billion.
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