Blackstone Raises $9.4B- Plans To Increase Buying In Asia
NEW YORK – The infamous Blackstone Group will be increasing its Asia Pacific investments, it seems after the group was able to generate $9.4 billion funds from two funds that were dedicated primarily to the region. Blackstone, which is an alternative asset manager based in New York, will have $15 billion at its disposal to deploy private equity, commercial real estate and many other opportunities in Asia especially after the money from its global funds is also counted. The news has been reported and confirmed by the President and COO of the company, Jonathan Gray.
Jonathan spoke about the company’s new move and plans when he spoke of the willingness of Japan-based entrepreneurs who have shown increasing interest to accept payments from private equity firms based overseas. “The mixture of the underlying growth in India and China, as well as the opening and potential of Japan to foreign capital, is something that gets us excited”, said Jonathan while speaking on the company’s latest plans.
It is also true that the Asia Pacific market is maturing and once it does and as it continues to, the opportunities for the company to execute their strategies as far as private equity is concerned become really high.
Blackstone, which is based in the US, unveiled on Wednesday that it raised a whopping $7.1 billion for its 2nd Asian real estate fund. The company also raised $2.3 billion for the first regional buy out fund. The funds generated by the company are noteworthy and it seems like Blackstone Group is quite serious about its investments and purchases.
Blackstone is not the only company that has moved in this direction as its global competitors, TPG, KKR & Co and Carlyle Group have also raised significant amounts for Asian buyouts. Big companies such as these are now turning their heads towards the Asia Pacific region as incredible opportunities are emerging in these markets, especially in China, Japan, and India.
According to Mr. Gray, the company is also expecting to increase the total portion of what it spends on Asian investments from the total business share from 10% currently to more. Gray also highlighted that the company would be focusing on China in particular for the amazing opportunities it presents.
Gray continuously showed signs of enthusiasm for Asia, as he spoke about the company’s forthcoming plans. “Blackstone Group has very quietly but actively built a significant Asia business and has gone forth with the intention of creating something big”. Furthermore, his comments also showed signs of the fact that the company’s plans of investing in Asia are long-term, especially given the scale of China’s economy, which currently has the most amount of white space.
Earlier this year in January, the group also purchased $200 million worth of nonperforming loans in China Huarong Asset Management. Just in April, the company also hired Yan Yan, the ex-President of Soho China, as the head of real estate for China and China-related acquisitions.
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