Blackstone expands India operations with new Bengaluru office
Blackstone has opened a global capability centre in Bengaluru to support its international operations, expanding its presence in India as major alternative asset managers build out their support functions in the country, according to a report by Bloomberg.
Blackstone has established a new global capability centre in Bengaluru, expanding its operations in India, according to Bloomberg. The addition of the office reflects the growing trend among major alternative asset managers to establish support functions in the country. The new centre will primarily support Blackstone's private wealth, credit, and insurance businesses, while the firm's investment team will maintain its headquarters in Mumbai.
Susan Yung, a senior managing director in Blackstone's Credit & Insurance Investment Operations team, has moved to Bengaluru to lead the new center. With a global presence of $1.37tn, Blackstone currently manages over $50bn in assets in India, making it the largest owner of office, retail, and logistics properties in the country.
The firm has played a pivotal role in India's real estate landscape, launching five of India's six listed real estate investment trusts and taking 14 portfolio companies public. This move aligns with the recent expansions of KKR and Apollo Global Management, as global alternative investment firms increasingly leverage India as a hub for operational and technology functions.
India currently hosts more than 1,800 global capability centers, a number expected to surpass 2,400 by 2030, as projected by Dun & Bradstreet.
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