Blackstone is planning to expand its headcount across Asia as it looks to capitalise on growing demand for private market products, according to a report by Bloomberg citing Ed Huang, head of Asia Pacific private wealth at the firm.
Speaking in a Bloomberg Television interview, Huang said Blackstone sees significant opportunity in offering private market strategies to individual investors seeking alternatives to traditional stock and bond portfolios. He added that the firm has roughly doubled its regional team over the past two years and continues to scale its presence, including expansion in Japan and additional hires in Australia and South Korea.
Private market allocations among individuals remain low compared with institutions, meaning global asset managers are increasingly looking to target high net worth individuals. Huang said institutional investors typically allocate around 30% of capital to private markets, while individuals allocate closer to 3%.
Blackstone’s regional push comes amid heightened competition from peers including Bain Capital and KKR, which have also been expanding in Asia and have competed alongside Blackstone for assets, including a recent bid for Japan-based FineToday Holdings. Huang said Blackstone continues to focus on long-term investment themes such as artificial intelligence, energy, and life sciences.
