Investment giant Blackstone opens office in Singapore

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BlackstoneUS-based Blackstone Group, the world’s biggest manager of alternative assets, will seek more investments in Southeast Asia following the opening of an office in Singapore on October 21, seven years after entering the Asia-Pacific region, Bloomberg reported.

Blackstone, led by Chief Executive Officer Stephen Schwarzman, has more than $5 billion of Asian assets, of which more than half are in real estate. Singapore will be the firm’s second office with treasury functions after New York, according to the company, which manages about $248 billion worldwide.

The office, its eighth in Asia after cities including Hong Kong, Tokyo, Mumbai and Sydney, will give the New York-based firm its first presence in Southeast Asia, where the economy is forecast by the Asian Development Bank to expand 4.9 per cent this year and 5.3 per cent in 2014. Private-equity deals in Southeast Asia, excluding Myanmar, totaled $9 billion so far this year, compared with $6 billion in 2012, according to Bloomberg data.

Blackstone’s investments in Asia are made up of $3.05 billion of real estate, including the StarHub business park in Singapore. An additional $2.63 billion is in private equity, the company said.

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Reading Time: 1 minute

US-based Blackstone Group, the world’s biggest manager of alternative assets, will seek more investments in Southeast Asia following the opening of an office in Singapore on October 21, seven years after entering the Asia-Pacific region, Bloomberg reported.

Reading Time: 1 minute

BlackstoneUS-based Blackstone Group, the world’s biggest manager of alternative assets, will seek more investments in Southeast Asia following the opening of an office in Singapore on October 21, seven years after entering the Asia-Pacific region, Bloomberg reported.

Blackstone, led by Chief Executive Officer Stephen Schwarzman, has more than $5 billion of Asian assets, of which more than half are in real estate. Singapore will be the firm’s second office with treasury functions after New York, according to the company, which manages about $248 billion worldwide.

The office, its eighth in Asia after cities including Hong Kong, Tokyo, Mumbai and Sydney, will give the New York-based firm its first presence in Southeast Asia, where the economy is forecast by the Asian Development Bank to expand 4.9 per cent this year and 5.3 per cent in 2014. Private-equity deals in Southeast Asia, excluding Myanmar, totaled $9 billion so far this year, compared with $6 billion in 2012, according to Bloomberg data.

Blackstone’s investments in Asia are made up of $3.05 billion of real estate, including the StarHub business park in Singapore. An additional $2.63 billion is in private equity, the company said.

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