World's largest private equity fund strengthens operation in Korea
By Anna J. Park
Former Citibank Korea President Ha Yung-ku will be leading Blackstone's operation in Korea.
The world's largest private equity fund announced on Wednesday that it had appointed Ha as the new chairman of Blackstone Korea. Chris Kim, former co-head of real estate at Angelo Gordon & Co., has been tapped as managing director to lead Blackstone's newly created real estate team. Eugene Cook will continue his role as managing director of Blackstone Korea's private equity business.
Ha, 68, joined the top global asset management company last August as the firm's executive adviser for Korea.
Prior to joining Blackstone, Ha led Citibank Korea from 2004 to 2014, while also serving as the chief of Citigroup Korea from 2010 to 2014. He chaired the Korea Federation of Banks from 2014 to 2017, in addition to being a non-executive director for the country's leading companies including SK hynix and Mirae Asset Global Investments.
The appointment comes as Blackstone aims to expand its presence in the Korean market.
"I am proud to be part of a growing team that has built a reputation for integrity and excellence in the local market and partnerships with some of the country's leading institutions," Ha said. "I look forward to contributing to Blackstone's continued expansion in Korea."
Blackstone Chairman, CEO and Co-Founder Stephen Schwarzman said he expects the expansion of the Korea operation will help strengthen the firm's presence that has continued for the past 15 years.
"We are thrilled to expand our team in Korea at an exciting time of growth for Blackstone in the market. Korea is one of the most innovative economies in Asia with a highly sophisticated workforce and domestic corporations that are influencing trends around the world," Schwarzman said. "The extension of the team will significantly help our efforts to continue building strong relationships across the private and public sectors and find compelling investment opportunities."
Blackstone is the world's largest alternative asset manager, with about $915 billion in assets under management. The company's global assets include various investment vehicles ranging from private equity, real estate, public debt and equity to infrastructure and life science.
The company's investment portfolio in Korea includes Starfield Hanam, one of the largest shopping malls in the country; Arc Place, a modern office building in Gangnam leased to global tech players; Geo-Young, Korea's leading pharmaceutical and medical device distributor; and Simone Accessories, a global manufacturer of luxury bags and leather goods.
By Anna J. Park
Former Citibank Korea President Ha Yung-ku will be leading Blackstone's operation in Korea.
The world's largest private equity fund announced on Wednesday that it had appointed Ha as the new chairman of Blackstone Korea. Chris Kim, former co-head of real estate at Angelo Gordon & Co., has been tapped as managing director to lead Blackstone's newly created real estate team. Eugene Cook will continue his role as managing director of Blackstone Korea's private equity business.
 |
| Ha Yung-ku, left, and Chris Kim / Courtesy of Blackstone |
Prior to joining Blackstone, Ha led Citibank Korea from 2004 to 2014, while also serving as the chief of Citigroup Korea from 2010 to 2014. He chaired the Korea Federation of Banks from 2014 to 2017, in addition to being a non-executive director for the country's leading companies including SK hynix and Mirae Asset Global Investments.
The appointment comes as Blackstone aims to expand its presence in the Korean market.
"I am proud to be part of a growing team that has built a reputation for integrity and excellence in the local market and partnerships with some of the country's leading institutions," Ha said. "I look forward to contributing to Blackstone's continued expansion in Korea."
Blackstone Chairman, CEO and Co-Founder Stephen Schwarzman said he expects the expansion of the Korea operation will help strengthen the firm's presence that has continued for the past 15 years.
"We are thrilled to expand our team in Korea at an exciting time of growth for Blackstone in the market. Korea is one of the most innovative economies in Asia with a highly sophisticated workforce and domestic corporations that are influencing trends around the world," Schwarzman said. "The extension of the team will significantly help our efforts to continue building strong relationships across the private and public sectors and find compelling investment opportunities."
Blackstone is the world's largest alternative asset manager, with about $915 billion in assets under management. The company's global assets include various investment vehicles ranging from private equity, real estate, public debt and equity to infrastructure and life science.
The company's investment portfolio in Korea includes Starfield Hanam, one of the largest shopping malls in the country; Arc Place, a modern office building in Gangnam leased to global tech players; Geo-Young, Korea's leading pharmaceutical and medical device distributor; and Simone Accessories, a global manufacturer of luxury bags and leather goods.
