Blackstone moves Chae to Asia

The Blackstone Group last week appointed Michael Chae as head of private equity in Asia, based in Hong Kong.

This is a newly created position at Blackstone and will see Chae take charge of the private-equity firm's relationships with its limited partners in Asia-Pacific. Ben Jenkins will continue to drive private-equity transactions throughout the region. Antony Leung remains Blackstone’s chairman for Greater China and is also joining the firm’s executive committee.

“As our business continues to globalise, Asia is becoming ever more central to the firm. The region is of strategic importance to us in terms of both the extraordinary investment opportunities and the critical role that Asian institutions are playing in our...