Blackstone’s head of tactical opportunities in Asia, Kishore Moorjani, resigns after 9 years

Photo: Bloomberg

Blackstone Group Inc.’s Kishore Moorjani has resigned from the firm after leading the efforts for its opportunistic investment platform in Asia for nine years.

Moorjani, 48, who’s the Asia head of Tactical Opportunities, will leave the firm in June and pursue other interests, a Hong Kong-based spokeswoman confirmed. He will be succeeded by Menes Chee, a senior partner who will relocate from the firm’s New York headquarters to Hong Kong in February, Blackstone said.

“Kishore has done an incredible job of building our business in an expansive and promising region,” David Blitzer, global head of Tactical Opportunities, said in an email. “We’re excited to have one of our most senior, long-serving partners in Menes take on this leadership role as we continue to expand” in Asia.

Moorjani is the third senior managing director departing from Blackstone in Asia since last month. Amit Jain, the Mumbai-based partner for its private equity business, will leave at end of this year, and Tim Wang, head of real estate for China, left in December, people familiar said earlier.

The departures also come as the firm is doubling down on Asia, seeking to raise at least $5 billion for its second private equity fund focused on the region.

Under Moorjani’s leadership, the team has deployed more than $2 billion across 13 investments in the region over the last seven years. The group expanded its Hong Kong presence in 2019, hiring two additional staff to focus on investments in Greater China, including Mike Shang. Daniel Kearns, who is based in Singapore, will also move to Sydney to open an Australia office.

In 2020, Blackstone Tac Opps made follow-on investments in New Zealand insurer Partners Life, an Indian distressed platform with HDFC Bank Ltd., and in Indonesian logistics business Emergent. These came after initial investments in those platforms from 2016 to 2018.

It also invested $150 million in preferred shares of Chinese data center company 21Vianet Group, whose stock price has more than doubled since the June investment. It also set aside $190 million for a venture to build hyperscale data centers in Japan the following month.

Moorjani joined Blackstone in 2012, the year the firm established the tactical opportunities business to provide flexible capital to high quality companies with bespoke investment structures across asset classes, sectors and security types. The division typically focuses on investment ideas that may fall beyond the mandates of Blackstone’s other funds.

Before joining Blackstone, Kishore was the founder and chief investment officer of Credit Asia Capital, an Asian special situations investment firm he established in partnership with the Blackstone Strategic Alliance Fund.

Chee has been with Blackstone since 2009 and was a founding member of the Tac Opps team when the firm established the business in 2012.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.