(www.PrivateEquityCentral.net) New York-based private equity house The Blackstone Group is setting up an office in Hamburg, Germany, with the appointment of Hanns Ostmeier as senior managing director.
Prior to joining Blackstone, Ostmeier spent seven years at European private equity firm BC Partners, leaving in December 2002 as a managing director of their German advisory office in Hamburg. He also spent several years with Boston Consulting Group as manager of their Düsseldorf office.
Ostmeier will also serve as senior adviser and head of Blackstone’s Hamburg office, the firm’s first beyond its current two offices in New York and London. He will focus on investments in German-speaking and Northern European markets.
“With our increasing activities in Europe, this new office is a logical extension of our presence there and a mark of our confidence in the burgeoning opportunities both in Germany and throughout Continental Europe,” said Stephen Schwarzman, chief operating officer and president of Blackstone, in a statement.
The announcement follows on the heels of news that Blackstone partnered with New York-based private equity firms Apollo Management and Goldman Sachs Capital Partners to acquire water treatment and process chemical provider Ondeo Nalco from French-Belgian energy conglomerate Suez in a transaction valued at $4.2bn.Blackstone was founded in 1985 and has raised over $14bn for private equity investment, including Blackstone Capital Partners IV, the largest private equity fund ever raised at $6.45bn. Blackstone’s operations include real estate, corporate debt, marketable alternative asset management, mergers and acquisitions advisory, and restructuring and reorganisation advisory.