Global investment giant Blackstone announced today a significant expansion of its private equity operations in Singapore.
This move is part of Blackstone’s strategic plan to enhance its presence in Southeast Asia. Celebrating its 10th anniversary in Singapore, the firm has also inaugurated a new office to accommodate its rapid growth in the region.
Joe Baratta, Global Head of Private Equity at Blackstone, expressed enthusiasm about the expansion.
“Singapore is an essential gateway to Southeast Asia and its emerging opportunities,” he said. “Over the past decade, we have significantly grown our presence here, tripling our business and forging valuable relationships with investors, the government, and companies. The expansion of our Private Equity division is a critical step in growing our Southeast Asian footprint.”
Amit Dixit, Head of Asia for Blackstone Private Equity, highlighted the company’s achievements in the region.
“Our Private Equity franchise in Asia has become one of the largest, with a strong performance track record. We’re proud to be at the forefront of building businesses with global best practices and talent,” Dixit said. “Singapore, home to many of our key investors and a hub for global and Asian businesses, is perfectly positioned for us to further expand our team, which already boasts over 100 professionals.”
Aravind Krishnan, a Managing Director at Blackstone Private Equity, who will lead the Singapore team, shared his excitement. “Our expansion in Singapore allows us to tap into more opportunities in Southeast Asia’s diverse and rapidly growing economy. We aim to leverage our long-term investment approach and operational expertise to partner with leading companies in the market.”
Blackstone has significantly increased its presence in Singapore over the last decade, tripling in size and establishing a strong track record in Real Estate and Private Equity. Key investments include Interplex, a leader in connector solutions, and high-quality office buildings like Eclipse and Soilbuild Business REIT.
The Singapore team includes notable industry figures like Gautam Banerjee, Chairman of Singapore; Alan Miyasaki, Head of Real Estate Acquisitions, Asia; and Harish Manwani, Senior Operating Partner.
As one of Asia’s largest private equity players, Blackstone’s recent notable transactions include the acquisition of CARE Hospitals in India, International Gemological Institute, and a joint acquisition with Blackstone Real Estate for Crown Resorts in Australia, marking the firm’s largest investment in the region.
The company has also raised $11 billion for its second Asia Private Equity fund, nearly tripling its predecessor.
PEVCJournal.com