Blackstone Group's Antony Leung is leaving his role as Greater China Chairman to lead a Hong Kong-based property conglomerate, the private equity firm said on Tuesday.Blackstone is the second global takeover firm in a week to announce a senior leadership change in Asia, after TPG Capital brought senior partner Tim Dattels back from the United States to co-lead the region.The moves come as private equity firms seek to spend their cash piles in Asia, at a time when competition among other competitors such as KKR & Co LP and entrenched Asia buyout groups remains intense.Leung, Hong Kong's former financial secretary, will become the group chief executive officer for Hong Kong-based property conglomerate, the Nan Fung Group, starting in February. He will also retain an advisory role at Blackstone.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 0.8% or $-0.22/share to $27.34. In the past year, the shares have traded as low as $14.00 and as high as $28.73. On average, 4617850 shares of BX exchange hands on a given day and today's volume is recorded at 4915768.
Source
