Private equity giant Blackstone has boosted its asset management team in Asia, and has brought on board Howard Zhang and Lawrence Hutchings as managing directors in addition to getting Charles Wu as a principal.
Howard Zhang, who will join Blackston’e Hong Kong office and will oversee its China portfolio, was previously with InfraRed NF Investment Advisers as a senior investment director. Hutchings, who has joined Blackstone’s Australia office, and has held stints with Henderson Global Investors, Australia’s AMP Capital and also with the Westfield Group among other firms. Wu will be joining from The Carlyle Group.
During the last 12 months, Blackstone has raised close to $13 billion for real estate strategies, according to media reports.
Blackstone’s first property deal in Asia was in 2007, and since then it has invested over $7 billion into the region. It is also expected to close its first $5 billion Asia-dedicated opportunity fund this year.