Blackstone loses Australia MD to BGH

Jonathan Chamberlain, managing director for private equity at Blackstone, has been appointed partner at the TPG Asia spin-out.

Jonathan Chamberlain, Sydney-based managing director for private equity at Blackstone, has left the firm to join BGH Capital as a partner.

At BGH, Chamberlain will join other partners, namely Stephanie Charles, former managing director at Credit Suisse; David Brooks, an ex-TPG principal; and Terry Brooks, formerly a finance director at Wesfarmers, according to a source with knowledge of the matter.

BGH declined to comment and Blackstone did not return a request for comment by press time.

Chamberlain joined Blackstone in 2013 and was actively involved in the firm’s investments in portfolio companies Ixom and Antares Restaurant Group, according to his profile on Blackstone’s website. He was reportedly leading Blackstone’s A$508 million ($376 million; €322 million) buyout offer for AMA Group’s vehicle panel repair business, a complex demerger blocked in June by the Australian Taxation Office. Prior to Blackstone, he spent four years at the Hong Kong-based buyout firm Unitas Capital as its vice president.

It is unclear who will replace Chamberlain at Blackstone. The appointment was first reported by Australian Financial Review.

BGH was co-founded by Ben Gray, former head of Asia at TPG, Simon Harle, ex-partner at TPG, and Robin Bishop, formerly the head of Macquarie Capital, in 2017.

The firm held a final close of approximately A$2.6 billion for BGH Capital Fund I, the largest ever first-time fund focused on Australia and New Zealand, in May. Fund I will be invested in mid-market companies with enterprise values ranging from A$250 million to A$6 billion.

This story was amended to correct Jonathan Chamberlain’s title to Blackstone’s managing director for private equity.