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Blackstone to open private equity office in Hong Kong

11 Jan 2007

Blackstone intends to open a private equity office in Hong Kong to expand its investment activities in the Asia Pacific region. At the same time Blackstone has also announced that Antony Leung has joined the firm as a senior managing director and chairman of Blackstone Greater China. Leung will co-head the expanded Hong Kong office along with Ben Jenkins, a senior managing director, who will be relocating with a team from New York.

Blackstone established its first office in Asia in 2005, an office in Mumbai. A satellite office in Hong Kong followed in 2006 to support the firm’s fund of hedge funds operations.

While the primary focus of the new private equity office in Hong Kong 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.

Blackstone plans to invest in companies across various industry sectors in both emerging and developed economies throughout the region. Investments may take the form of traditional buy-outs and growth equity as well as Blackstone’s signature corporate partnership transactions.

Stephen A Schwarzman, Blackstone’s chairman, CEO and co-founder, said, ‘We are impressed by the impact of the economic reforms that have been taking place in the world’s fourth largest economy and elsewhere in that region. 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.’

Leung was the Financial Secretary of Hong Kong from 2001 to 2003. Prior to that he was chairman of Asia with JPMorgan and previously at Citicorp in various positions including head of North Asia and South West Asia investment banking, head of Asia private banking, regional treasurer, and country corporate officer of Hong Kong and China.

Leung sits on the boards of the Industrial and Commercial Bank of China, American International Assurance Company and Heifer International, Hong Kong.

Blackstone’s core businesses are private equity investing, private real estate investing, corporate debt investing, hedge funds, mutual fund management, private placement, marketable alternative asset management, and investment banking advisory services.

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