As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 16 hours ago
Jan 17 2007 | 10:26am ET
Private equity giant The Blackstone Group has once again been bitten by the Asian p.e. bug. The firm recently announced plans to open an office in Hong Kong to expand its investment activities in the Asia-Pacific region.
Blackstone is no stranger to the Far East. In 2005, the firm established an office in Mumbai, India, to handle private equity and real estate investments. A year later it established a satellite office in Hong Kong to support its fund of hedge funds operations. While the primary focus of the new office will be sourcing and managing new private equity transactions, the office will also assist existing portfolio companies in entering or expanding in the region and providing support for Blackstone’s other businesses, according to the firm.
Blackstone will seek to invest in leading companies across industries in both emerging and developed economies throughout the region. Investments may take the form of traditional buyouts and growth equity. “We believe that significant foreign direct investment in the Chinese economy is vital to its continued growth and development and look forward to playing an integral role in that process, not only in China but throughout the Asia Pacific region,” said Stephen Schwarzman, Blackstone’s co-founder.
In addition, the firm has hired Antony Leung as a senior managing director to co-head the Hong Kong office along with Ben Jenkins, a senior managing director, who will be relocating with a team from New York.
Previously, Leung served as the financial secretary of Hong Kong from 2001 to 2003.