Blackstone Boosts Asia Presence With New Fundraising Chief

Jun 30 2009 | 2:13am ET

The Blackstone Group’s expansion in Asia is continuing apace with the hire of a Deutsche Bank executive to lead capital-raising in the region.

Philip Levinson joins the private equity giant from RREEF, the real estate, infrastructure and p.e. division of Deutsche Asset Management. In addition to raising money, in his new post, Levinson will also manage client relationships and help develop new products in the region.

It is not clear where Levinson will be based, Reuters reports.

Levinson’s hire comes on the heels of several recent moves by Blackstone in China. The firm is reportedly in talks with Shanghai officials about opening a subsidiary there, and the country’s sovereign wealth is mulling a $500 million investment with the firm’s hedge fund unit.

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