Blackstone Group Opens Shop in China
Among the leading private equity and investment banking firms, the Blackstone Group ranks among the top companies that have prospered in the said industry. With only $400,000 as startup capital, the Blackstone Group expanded and now tie-ups in the global equity market.
The opening of the $160.7 million representative office in Shanghai is a clear indication that the Blackstone Group is moving forward with their plans despite the credit crisis that has struck other equity and investment banking corporations since 2007. Shan Fu, a former government officer and with an extensive background in corporate investment as well, will head the Blackstone Group’s Beijing front.
Steve Schwarzman, CEO and co-founder of the Blackstone Group, sees the potential of the private equity market in Asia, more specifically, in China. Steve Schwarzman adds that their Beijing office is just proof of their commitment to China’s developing equity market, which in turn, is their way of linking other private equity and investment banking pools to the Asian market scene.
The Blackstone Group’s satellite office in Beijing, China, is their 7th international site, adding to the offices they have in London, Hamburg, Paris, Mumbai, Tokyo and Hong Kong. The Blackstone Group specializes in asset management, financial advisory services, acquisitions, mergers, and buildups, apart from private equity.
Source: More from Steve Schwazman and the Blackstone Group on China office.
Read an article at PBS about Wall Street’s Hottest Hand, Blackstone’s CEO Steve Schwarzman.
View the executive team of the Blackstone Group, starting with Steve Schwarzman.
