Blackstone hires former JH Whitney Capital exec to lead consumer growth investments

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Blackstone has appointed former JH Whitney Capital Partners executive Ann Chung as a managing director in its growth equity unit.

The firm said Chung will help lead Blackstone Growth’s consumer sector investments, alongside unit head and senior managing director Jon Korngold.

Chung previously lead consumer investments at JH Whitney after roles at L Catterton and Swander Pace Capital.

Blackstone launched its BXG unit last year to capitalise fast growing companies. The platform recently invested in dating and social networking app operator MagicLab.

Korngold said, “Ann’s excellent track record and deep experience in partnering with fast-growing companies in the consumer sector are an important addition as we continue to build a world-class growth equity business.

“We’re excited to welcome her to the Blackstone Growth team given how important consumer-facing businesses are to our firm.”

Earlier this month Blackstone hired former Barclays group chief technology officer John Stecher to lead its global tech organisation as CTO.

The firm is also set for an impressive return on its investment in life insurance and annuities provider FGL after a $2.7bn buyout was agreed by fellow FGL backer Fidelity National Financial.

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