New York-based Blackstone has announced plans to expand its private equity business in Singapore.
Blackstone is expanding its private equity business in Singapore and the team will be led by Aravind Krishnan, according to a statement. Krishnan is a managing director at Blackstone Private Equity and he has been with the firm for more than 10 years.
«This is a fantastic time to be in Singapore, an important gateway to Southeast Asia and its emerging opportunities,» said Blackstone global head of private equity Joe Baratta. «The expansion of our private equity business will significantly help grow our footprint in Southeast Asia.»
New Talent
According to Black Private Equity head of Asia Amit Dixit, the US asset manager is looking to hire seasoned executives from the industry to an existing team of over 100 professionals, though the firm did not reveal any targets. Currently, the team housed industry veterans including Singapore chairman Gautam Banerjee, Asia head of real estate acquisitions Alan Miyasaki and senior operating partner Harish Manwani.
«Singapore is home to some of our most important investors, as well as headquarters to global and Asian businesses and a gateway to Southeast Asia,» Dixit said. «We are excited to add experienced private equity talent to the Blackstone Singapore team.»
10th Anniversary
Blackstone recently celebrated its 10th anniversary in Singapore and also moved to a new office in the city-state. And over the last decade, it tripled the size of the business and developed a track record across real estate as well as private equity.
«We are proud of the private equity franchise we have built in Asia, which has since become one of the largest in the region,» Dixit added. «Our focus on building businesses with best-in-class global practices and talent is well suited to Southeast Asia’s growing economies.»
