Global buyout giant Blackstone has hired Ryusuke Shigetomi from Morgan Stanley to succeed Katsuyuki Kuki as chairman in overseeing the firm’s business in Japan. Kuki will stay with the firm as an executive advisor.
Shigetomi will also hold the title of representative director and will help navigate the local financial and regulatory environments, the firm said.
Shigetomi was vice chairman of Morgan Stanley Global Investment Banking, managing director of Mitsubishi UFJ Morgan Stanley Securities’ investment banking division and its head of telecommunication, media and technology banking. He also held a number of positions with The Industrial Bank of Japan and led deals in the telecom, media, technology and energy sectors.
Stephen A. Schwarzman, chairman, CEO and co-founder of Blackstone, said, “Ryusuke brings nearly four decades of experience in Japan’s financial industry and a reputation of excellence. We are thrilled to have him join at an exciting time of growth for Blackstone in Japan. “
The firm announced the best year yet in the market last year with landmark transactions across both real estate and private equity, introduced the private wealth solutions business to serve a broader range of clients, and expanded support for the team with the key appointment of Eiichi Hasegawa as senior advisor, who was previously special advisor to former Prime Minister Shinzo Abe.”
Blackstone opened its Tokyo office in 2007. It completed $7.3bn in investments in the country last year across real estate and private equity. Recent transactions include buying into Japanese medicine company Takeda Consumer Healthcare Company last year and he acquisition of AYUMI Pharmaceutical in 2019.
Other pe firms have also been active in the region in the past year.
Infrastructure and real estate investment giant GLP raised a record-breaking JPY311bn ($2.75bn) two weeks ago for the biggest ever fund dedicated to Japanese RE deals.
Bain Capital had also reportedly reached a JPY110bn ($1bn) final close for its first Japan-focused fundraise in April.
European buyout house EQT has hired Tetsuro Onitsuka as head of EQT private equity and Masahiko Kato as head of EQT Infrastructure in the newly-established Japan office last month.
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