The Blackstone Group has named Michael Chae, a senior managing director in its private equity group, as head of private equity in Asia, based in Hong Kong.
Chae will also assume responsibility for the firm’s limited partner marketing personnel in Asia Pacific and will coordinate firm-wide relationships with the firm’s most important limited partners in the region.
Ben Jenkins will continue in his key role of driving private equity transactions throughout the region.
Antony Leung remains Blackstone’s chairman for Greater China on a firm-wide basis and will join the firm’s executive committee.
Stephen A. Schwarzman, Blackstone’s chairman and chief executive, says: “Michael is one of our leaders and most senior partners in our private equity business, and his move to lead our business in Asia reflects our growing commitment to the region. As our business continues to globalise, Asia is becoming ever more central to the firm. The region is of strategic importance to us in terms of both the extraordinary investment opportunities and the critical role that Asian institutions are playing in our funds. I am delighted that Michael will head our business there and, under his leadership, we will be better positioned than ever to capture an ever-growing number of opportunities.”
Since joining Blackstone in 1997, Chae has led some of Blackstone’s most significant investments, including Nielsen, Michaels Stores, The Weather Channel Companies, and Hilton Hotels.
