Antony Leung, the Blackstone Group's Greater China chairman and senior managing director, has left the firm after seven years of service, according to a company statement.
Leung will join Hong Kong-based real estate conglomerate Nan Fung Group, where his appointment as chief executive officer will be effective in February 2014. Nan Fung has some financial and investment activities, but its core-business remains in real estate development and investment.
“Nan Fung is one of the most solid and respected business conglomerates in Asia. I am looking forward to working with the team there to drive it to new heights,” Leung said in the statement. “It has also been a privilege to be associated with Blackstone. The firm is doing exceptionally well in Asia and China, and I am happy to continue my association with it as a senior advisor and an international advisory board member.”
He will remain a senior advisor to Blackstone and a member of its international advisory board.
Before joining Blackstone, Leung was financial secretary for Hong Kong and chairman for Asia at JPMorgan Chase.
Stephen Schwarzman, chairman and founder of Blackstone, said in the statement that Leung had played a major role in developing the firm's relationships in China and Hong Kong.
China has been one of Blackstone’s most active markets for private equity. In October, the firm privatised NASDAQ-listed technology company Pactera, whose operations are based in China. The deal was valued at $625 million, according to earlier media reports.
Yet the firm has shown commitment to Southeast Asia, too, recently. In October, the firm formally opened its Singapore office in the hope of making it its regional hub, although it is unclear whether the firm has made any investments yet in the region, PEI reported earlier.