Blackstone promotes Ed Huang to head Asia private wealth division
Oct 12 (Reuters) - Blackstone said on Thursday it has promoted Ed Huang, chief operating officer, Blackstone Private Equity Asia, to head of Private Wealth Solutions (PWS), Asia-Pacific.
Huang joined Blackstone in 2012 and was most recently also its head of Asia Acquisitions and led Greater China and Korea private equity teams, according to the firm's website. He will remain based in Hong Kong.
Haide Hong, a senior managing director in Blackstone's private equity group, has also been promoted to head of acquisitions, China, Blackstone said in a statement.
Hong, a 10-year veteran of Blackstone, returned to Asia from London two years ago and will now lead investment efforts in Shanghai, Blackstone said.
The two new appointments will take effect on Jan. 1, 2024, it said.
Blackstone said its PWS business has US$240 billion of assets under management (AUM) globally, nearly a quarter of the firm´s total AUM.
In Asia, the PWS team has a presence in major wealth hubs including Tokyo, Hong Kong and Singapore.
In Japan specifically, Blackstone partnered with local financial institutions in recent years to enable Japanese individual investors access to its private real estate and credit strategies, it said. (Reporting by Jaiveer Singh Shekhawat in Bengaluru and Kane Wu in Hong Kong; Editing by Shailesh Kuber and Susan Fenton)
