Key Takeaways
- • Blackstone has opened a global capability centre in Bengaluru to support its international operations, according to Bloomberg, extending its India footprint beyond Mumbai headquarters.
- • The Bengaluru centre will support Blackstone's private wealth, credit and insurance businesses, while investment teams remain at the Mumbai headquarters.
- • Susan Yung, a senior managing director in Blackstone's Credit & Insurance Investment Operations team, has relocated to Bengaluru to oversee the centre.
- • Blackstone manages $1.37tn globally and has more than $50bn in assets under management in India, where it is the largest owner of office, retail and logistics properties.
- • The move follows similar expansions by KKR and Apollo Global Management as alternative asset managers increasingly use India for operational and technology functions.
Summary
Blackstone has opened a global capability centre in Bengaluru to support its international operations, expanding its presence in India as major alternative asset managers build out support functions in the country, according to a report by Bloomberg. The new office will reportedly support the firm's private wealth, credit and insurance businesses. Its investment team will remain based at the firm's India headquarters in Mumbai.
Susan Yung, a senior managing director in Blackstone's Credit & Insurance Investment Operations team, has relocated to Bengaluru to oversee the centre. The move underscores the growing role of India-based operational and technology functions for global alternative investment firms.
Blackstone, which manages $1.37tn globally, has more than $50bn in assets under management in India. The firm is the country's largest owner of office, retail and logistics properties, has helped launch five of India's six listed real estate investment trusts, and has taken 14 portfolio companies public.
The expansion follows similar moves by KKR and Apollo Global Management. According to Dun & Bradstreet, India had more than 1,800 global capability centres last year, a figure projected to exceed 2,400 by 2030.
Susan Yung, a senior managing director in Blackstone's Credit & Insurance Investment Operations team, has relocated to Bengaluru to oversee the centre. The move underscores the growing role of India-based operational and technology functions for global alternative investment firms.
Blackstone, which manages $1.37tn globally, has more than $50bn in assets under management in India. The firm is the country's largest owner of office, retail and logistics properties, has helped launch five of India's six listed real estate investment trusts, and has taken 14 portfolio companies public.
The expansion follows similar moves by KKR and Apollo Global Management. According to Dun & Bradstreet, India had more than 1,800 global capability centres last year, a figure projected to exceed 2,400 by 2030.
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