Blackstone plucks Singapore chairman from PwC

Blackstone Singapore has hired the former chairman of PricewaterhouseCoopers to become chairman of Blackstone Singapore.

The Blackstone Group has revealed that Gautam Banerjee, the former executive chairman of PricewaterhouseCoopers Singapore, has been appointed as chairman of Blackstone Singapore. He will also join Blackstone’s International Advisory Board, according to a firm statement.

Banerjee has already started work as the chairman at the Blackstone office, according to the firm.

At PwC, Banerjee served as a member of the firm’s strategy council, and as chief operating officer for PwC in China, Korea, Japan, Australia, and Southeast Asia.

At Blackstone, Banerjee will primarily focus on the Southeast Asia region.

“Through his extraordinary 30-year career, [Banerjee] has become one of the senior leaders of the business and broader community in the region,” Blackstone’s head of international private equity, Michael Chae, said in the statement.

Banerjee will also continue to serve on the boards of several Singapore companies, including Singapore Airlines, the Government of Singapore Investment Corporation, the Economic Development Board and the APEC Business Advisory Council.

Founded in 1985, Blackstone currently has $205 billion assets under management and last year raised a significant amount of new capital worldwide — $16.2 billion for Blackstone Capital Partners VI, $4 billion for GSO Capital Opportunities Fund II, and $2.5 billion for its debut energy fund, Blackstone Energy Partners, according to Private Equity International’s data division.

In Asia, Blackstone has been busy in the real estate space. In October, the firm completed India’s largest real estate investment to date and this month made a joint investment with Hong Kong-listed developer China Resources Land in a 6.45 million-square-foot mass housing development near Shanghai that could cost approximately $1.8 billion, sister magazine PERE reported earlier.