Friday, 24 June 2016
Last updated 4 hours ago
Apr 4 2014 | 9:34am ET
Blackstone Group international private equity chief Michael Chae is coming (back) to America.
Chae will return to New York in June after more than three years in Hong Kong to retake control of the firm's media and telecommunications holdings, Blackstone President Hamilton James said in an internal memo. Chae will continue to oversee Blackstone's Asian p.e. business from New York.
On the ground in Asia, Ed Huang and Yi Luo—hires during Chae's years in Hong Kong—will cover Blackstone's Chinese private-equity interests, while James Carnegie and Jan Nielsen will handle the rest of Asia. Chris Heady adds investor relations and business development to his responsibility as head of Asian real estate.
Chae's time in Asia saw a major expansion for Blackstone in the region. The firm's headcount there more than doubled, and it opened a second regional office in Singapore.