Blackstone Group

Memo: Blackstone's Asia private equity boss is returning to New York

April 4, 2014: 11:04 AM ET

The Blackstone Group's head of Asia-Pacific investing is returning stateside.

131205141840-blackstone-620xa

FORTUNE -- Michael Chae, a senior managing director at The Blackstone Group (BX), will be returning to New York after having spent three years in Hong Kong as head of the firm's Asia private equity and investor relations efforts, according to an internal memo obtained by Fortune.  Chae will continue to oversee Asia-Pacific private equity and IRBD activity (although Chris Heady will take on half of the IRBD role), and also "reassume his sector responsibility for media and communications investments."

Inside of the region, Ed Huang and Yi Luo will lead China investing and Jan Nielsen and James Carnegie will lead non-China Asia-Pacific investing. Finally, Gautam Banerjee, who joined the firm 15 months ago as chairman of Singapore operations, will become a senior managing director and co-chairman of the firm's Asia operating committee.

Below is the full memo, sent this morning to Blackstone staffers by firm president Tony James:

I am pleased to announce that Michael Chae will be returning to the New York office in June after 3 years in the Hong Kong office leading our Private Equity business and IRBD organization in Asia.

Michael will continue to oversee our Private Equity activities in Asia-Pacific and will reassume his sector responsibility for media and communications investments. He will also be a member of the U.S. and Asian Investment Committees. In addition, Michael will help oversee the investment process for Tactical Opportunities, working closely with the group's deal teams.

In Asia, Ed Huang and Yi Luo will lead our private equity investing in China, and Jan Nielsen and James Carnegie outside of China. Ed and Jan will coordinate our PE operations day-to-day from the Hong Kong office, with Yi and James continuing to head our Shanghai/Beijing and Sydney offices respectively. Chris Heady, Head of BREP Asia, will assume shared oversight for the IRBD team in the region with Michael.

In addition, I am very pleased to announce that Gautam Banerjee, who joined the Firm in January 2013 as Chairman of Blackstone Singapore, will become a Senior Managing Director and co-Chairman of the Asia Operating Committee. Gautam will bring senior focus and oversight to risk, controls, and governance in Asia for the Firm, across offices, businesses, and functions. He will also continue to be a key external ambassador for the firm.

We are fortunate to have such strong, continuing leadership in this important region.

Steve and I are pleased to welcome Michael back to the New York office after he successfully embraced the leadership challenge we posed to him in 2011. He did an outstanding job rebuilding our private equity business, inculcating Blackstone culture in Asia, developing a terrific team, and providing strong leadership across our entire Asian platform. We are looking forward to his continuing leadership and contributions to the firm from New York.

Tony

RELATED:  Bond investors bet on ghost of future Blackstone CEO

  • Bond investors bet on the ghost of Blackstone CEO future

    The asset management firm is still run by its original founder, but that didn't stop investors from betting on its succession plans.

    By Lauren Silva Laughlin

    FORTUNE -- Investors are confident that whoever will be running Blackstone in 2044 will be doing so capably. If that person takes the helm at the giant alternative asset manager at the same age founder Steve Schwarzman started the firm in 1985, he MORE

    Apr 4, 2014 8:53 AM ET
  • Kronos CEO talks about the big deal, and the bigger one that didn't happen

    HR software giant Kronos has some new investors, but it had been seeking a brand new owner. CEO Aron Ain explains what happened.

    FORTUNE -- HR software company Kronos last week announced that The Blackstone Group (BX) and Singapore's GIC Investments had agreed to pay $750 million for around a 44% equity stake in the company. That works out to around a $4.5 billion enterprise value, including debt.

    The agreement came after MORE

    - Feb 24, 2014 11:22 AM ET
  • About that Blackstone Group succession plan

    Jonathan Grey is next in line. Still.

    FORTUNE -- The Wall Street Journal yesterday reported that The Blackstone Group (BX) was grooming Jonathan Grey, the 43- year-old head of its booming real estate business, to eventually succeed firm president Tony James. And, in time, to succeed firm founder and CEO Steve Schwarzman.

    I'd wager that the WSJ is correct, both on the individual and the timing.

    As for Grey, his ascension at Blackstone MORE

    - Jan 31, 2014 11:38 AM ET
  • 10 economic surprises for 2014

    The Blackstone Group's Byron Wien thinks oil and corn prices will rise this year, and is bullish on the long-term stock market.

    By Byron Wien

    FORTUNE -- In January 1986, Morgan Stanley investment strategist Byron Wien published a list of 10 "surprises" for the upcoming year. He is now vice chairman of The Blackstone Group's (BX) advisory practice, but is still making predictions.

    For Wien,"surprises" are events that the average investor would only MORE

    Jan 6, 2014 2:14 PM ET
  • Blackstone responds to Jon Stewart

    Jon Stewart likens private equity execs to movie mobsters. But Blackstone says it really was the romantic lead.

    FORTUNE -- The Blackstone Group (BX) found itself in The Daily Show's sights last night, based on a seemingly-brazen piece of self-dealing that was first uncovered late last month by Bloomberg News.

    Here are the basic facts: In the first half of 2013, Blackstone affiliate GSO Capital Partners purchased debt and credit default swaps MORE

    - Dec 5, 2013 2:19 PM ET
  • Hilton IPO could outshine Twitter

    The largest IPOs of 2013 may not be as sexy as offerings from the latest tech darlings, but they contributed to the biggest year of public offerings since the tech bubble of the early 2000s.

    - Dec 3, 2013 11:05 AM ET
  • Nielsen CEO heading to private equity

    Dave Calhoun is stepping down as CEO of Nielsen after a nine-year run. Next stop: The Blackstone Group.

    FORTUNE -- Dave Calhoun announced earlier this month that he would be stepping down this year as CEO of Nielsen Holdings (NLSN), nearly eight years after joining from General Electric (GE). Now we know his next stop: The Blackstone Group, one of six private equity firms that purchased Nielsen in 2006 (it returned MORE

    - Nov 21, 2013 10:59 AM ET
  • Exclusive: Blackstone hires Merrill Lynch's Deann Morgan

    Deann Morgan joins Blackstone, after 14 years at Merrill Lynch.

    FORTUNE -- The Blackstone Group (BX) has hired longtime Merrill Lynch banker Deann Morgan, Fortune has learned.

    She will serve as a managing director at Blackstone, focused on product development for the firm's wealth management group. That basically means she will help develop products and relationships for third-party wealth managers (namely banks), which would help Blackstone secure high-net-worth investors for its many MORE

    - Oct 30, 2013 1:12 PM ET
  • Blackstone earnings: Slight revenue miss

    Blackstone reports record assets under management.

    FORTUNE -- The Blackstone Group (BX) this morning reported nearly $1.23 billion in third quarter revenue, coming in just short of most analyst expectations (and exactly in line with some of them).

    The investment firm reported $0.56 per unit in economic net income, and that its assets under management reached a record $248 billion (up 21% year-over-year -- including double-digit increases across all investing businesses).

    Blackstone reported MORE

    - Oct 17, 2013 7:27 AM ET
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.