Blackstone Doubling Singapore Team As Investors' Leave Chinese Land: Report

Blackstone Inc. BX is reportedly planning to double its private equity (PE) business headcount in Singapore in the coming two years.

The leading alternative asset management company aims to tap into a growing number of deals in Southeast Asia, reported Reuters.

Amit Dixit, Asia PE business head, stated that the expansion in Singapore will also bring the company closer to its investor base, including sovereign wealth funds, family offices, and individual investors.

The company aims to grow its Singapore PE team to six or seven people within two years, with Aravind Krishnan, a managing director in its PE practice, expected to move to Mumbai to lead the team.

As per the report, Blackstone’s move reflects financial investors’ efforts to move bases from China amid growing geopolitical tensions and a sluggish economic recovery.

Read: Blackstone Eyes European Real Estate Opportunities Amid Easing Central Bank Rates: Report

Blackstone will focus on sectors including technology, healthcare, consumer, financial services and value-added industrial, and aim for deal sizes as small as $150 million, the management stated

Dixit added “Domiciling businesses in Singapore has really accelerated post-COVID; so even if the business may be in India, China, Korea or even a global business, they will have headquarters in Singapore,” 

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Price Action: BX shares are trading higher by 0.49% at $119.92 premarket on the last check Tuesday. 

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