Private equity firm Blackstone today announced the opening of its second office in India, expanding into Bengaluru, one of its priority markets.
The office will be located at Prestige Lakeshore Drive in Bellandur, east Bengaluru. It is a recently developed office park jointly owned by Blackstone Real Estate and Prestige Group that is home to several other leading global finance and technology firms.
The new global capability center (GCC) will bring together Blackstone’s employees and professional services partnerships across corporate functions, the company said in a statement.
Susan Yung, a senior managing director in the Blackstone Credit & Insurance (BXCI) Investment operations team, will oversee operations for the GCC. Yung previously lived in Bengaluru while working at Goldman Sachs.
Blackstone’s investment professionals will remain based in Mumbai, the firm’s India headquarters, as per the statement.
“This expansion reaffirms our long-term commitment to India, where we have become one of the most prominent global investors over the past two decades,” said Michael Chae, vice chairman & chief financial officer, Blackstone.
Blackstone said it was among the first global investors to establish a presence in India 20 years ago and has since become one of the country's largest investors.
Today, the firm operates leading real estate and private equity franchises, alongside growing credit and insurance and infrastructure businesses.
It is India's largest owner of office, retail, and logistics assets and has helped launch five of the country's six listed REITs, including the first.
Blackstone is one of the world’s largest alternative asset managers. Blackstone has nearly $1.4 trillion in assets under management including global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds.
