Blackstone, the world’s largest alternative asset manager, is looking to double the headcount of its Singapore-based private equity business over the next two years as it responds to an increase in deals activity in Southeast Asia, according to a report by Reuters.
The report quotes Amit Dixit, Head of Asia for the firm’s private equity business, as saying that the move is designed to bring the asset manager closer to its regional investor base, which includes sovereign wealth funds, family offices and individual investors.
Aravind Krishnan, a Managing Director in Blackstone’s PE practice in Mumbai, will move to Singapore to head up the PE team in the city-state which will eventually number six or seven people.
Blackstone, which has been operating in the city-state for over a decade, is one of the largest PE players in Asia, having raised $11bn for its second Asia private equity fund in 2021, nearly tripling its predecessor.
