Blackstone has opened a new office in Bengaluru, establishing its second location in India as the alternative asset manager expands its operational capabilities in the country.
The new Global Capability Center (GCC) will bring together Blackstone employees and professional services partnerships across corporate functions to support the firm’s operations in India and globally, the firm said in a statement on Tuesday.
Susan Yung, a senior managing director in Blackstone Credit & Insurance’s investment operations team, will oversee the centre. Yung has more than 25 years of experience in the finance industry and previously lived in Bengaluru while working at Goldman Sachs.
Blackstone’s investment professionals will continue to be based in Mumbai, its India headquarters.
The Bengaluru office is located at Prestige Lakeshore Drive, an office park jointly owned by Blackstone Real Estate and Prestige Group that houses global finance and technology companies.
The expansion comes as Blackstone continues to build its presence across India’s private markets. The firm operates real estate and private equity businesses in the country, alongside growing credit and insurance and infrastructure franchises.
Blackstone is India’s largest owner of office, retail and logistics assets and has helped launch five of the country’s six listed real estate investment trusts (REITs), including the first, according to the firm.
It has also taken 14 companies public across its businesses in India.
“We are proud to deepen our presence in India with a new office in Bengaluru, reflecting our conviction in one of our most important markets globally,” said Michael Chae, Blackstone’s vice chairman and chief financial officer.
“By investing in exceptional talent, technology-enabled capabilities, and a world-class workplace, we are strengthening our ability to support the firm’s operations globally. 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.”
