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Blackstone Continues Private Equity March In Singapore

Blackstone Continues Private Equity March In Singapore

Editorial Staff

17 January 2024

Blackstone Continues Private Equity March In Singapore

The asset manager, with over $10 trillion of assets under management, has flagged its continued growth ambitions for its private equity business in Singapore and beyond.

Blackstone, which
late last week reported 2023
financial results and an infrastructure investments acquisition,
is ramping up its private equity arm in Singapore.

Aravind Krishnan, a managing director, Blackstone private equity,
will lead the team in the city-state, the US asset management
firm said in a statement yesterday. It has also moved to a new
office, but did not elaborate on details.

Krishnan has worked at Blackstone for more than a decade.

The world’s largest asset manager talked about its private equity
ambitions by stating that it has recently marked its 10th
anniversary in Singapore. 

“The expansion of our private equity business will significantly
help grow our footprint in Southeast Asia,” Joe Baratta, global
head of private equity, Blackstone, said.

The Singapore team, comprising more than 100
people, includes Gautam Banerjee, chairman of Singapore;
Alan Miyasaki, head of real estate acquisitions, Asia; and Harish
Manwani, senior operating partner.

The US business has been busy. Recent transactions include: the
acquisition of CARE Hospitals to create an Indian hospital
platform; the acquisition of International Gemological Institute,
which offers certification of lab-grown diamonds; the sale of
Sona Comstar in an IPO by an auto-components maker in India; and
a joint acquisition with Blackstone Real Estate for Crown Resorts
in Australia. The firm secured $11 billion in commitments for its
second Asia Private Equity fund, nearly tripling its predecessor,
it added.

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