SINGAPORE-Blackstone Group has opened an additional office in Singapore and seek more investments in Southeast Asia. The massive global firm now has eight offices in Asia.
Blackstone now has more than $5 billion of Asian assets, of which more than half are in real estate, according to a report in Bloomberg. Media reports say the New York-based firm will occupy a space on the 13th floor of Marina Bay Financial Centre Tower 2.
Blackstone's investments in Asia include roughly $3 billion in real estate, Bloomberg says, including the StarHub business park in Singapore. An additional $2.63 billion is in private equity, according to the company.
“With the help of this new regional hub, we are in an exceptional position to continue to grow, perform, invest, and deliver on our commitments for the future,” CEO Stephen Schwarzman, said in a statement last week announcing the location of the new office. Blackstone manages $248 billion in global assets.
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