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Blackstone hires Carlyle Asia exec

21 Sep 2011

Global asset manager Blackstone has poached Yi Luo from the Carlyle Group to focus on Asian buy-out opportunities.

According to news reports, Luo, formerly a managing director in Carlyle’s Shanghai office, will report to Blackstone’s Asia head Michael Chae.

Prior to joining Carlyle, Luo was a vice president of Merrill Lynch & Co.’s Investment Banking division in Hong Kong. Prior to that, he was an executive director at Goldman, Sachs & Co.’s principle investment area for two years.

The news follows treports earlier this month that Blackstone senior managing director Ben Jenkins was to return to New York after four years one of the firm’s top dealmaker in Asia.

Jenkins is due to leave the firm’s Hong Kong office at the end of the year with his wife, who recently secured a senior position with the Carnegie Corporation in the US,.

He arrived in Hong Kong in 2007 as the firm was expanding its operations in Asia and was in charge of Blackstone’s investments in the region, including the $600m high profile acquisition of China’s BlueStar Chemical.

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