Global investment group Blackstone has opened a new office in Singapore, its 24th globally.
Blackstone’s CEO, chairman, and co-founder Stephen Schwarzman, said the office would provide a base for the firm’s investment activities in Southeast Asia.
“With the help of this new regional hub,” Schwarzman said, “we are in an exceptional position to continue to grow, perform, invest, and deliver on our commitments for the future.”
The firm’s most recent quarterly results revealed that revenues had increased by 44 per cent so far in 2013 thanks to continued strong fund performance.
Total revenues from the firm’s buyout investments were $732m for the first three quarters according to the latest quarterly results.
The firm said performance fees from the asset class had remained strong and were up 74 per cent on a year-to-date basis, resulting in total net accrued performance fees of $589m at the end of the third quarter.
Copyright © 2013 AltAssets