Blackstone Inc., a global investment firm, has announced a significant reorganization of its Asia real estate unit leadership, marking a new chapter in its expansive Asian operations.

Key Leadership Changes

• Alan Miyasaki, a 24-year Blackstone veteran and head of acquisitions in Asia for 18 years, is set to return to the United States. Miyasaki will remain with the firm through 2026, citing a desire to be closer to family in Utah.

• Luigi Caruso, currently the COO of Blackstone's European real estate team, will step into Miyasaki's role. Caruso is scheduled to relocate to Singapore in January to lead the Asia real estate acquisitions team.

• Asheesh Mohta has been promoted to country head of real estate for India, strengthening Blackstone's presence in one of Asia's largest markets.

• Tuhin Parikh will take on dual roles as vice chairman of real estate for Asia and executive chairman of real estate India, further solidifying the firm's commitment to the region.

Miyasaki's Legacy

Under Alan Miyasaki's leadership, Blackstone's Asia real estate business has seen remarkable growth:

• The division expanded from a small team in 2007 to over 130 professionals today.
• Major deals were completed, including investments in AirTrunk, Crown Resorts, and Tokyo Garden Terrace Kioicho.
• Since 2008, the Asia real estate arm has invested over $100.00 billion in assets across the region.

Caruso's Background

Luigi Caruso, who joined Blackstone in 2017, brings significant experience to his new role:

• He currently oversees European real estate operations.
• Caruso manages a portfolio of more than $120.00 billion in assets in Europe.

Blackstone's Asian Footprint

This leadership reshuffle underscores Blackstone's continued focus on the Asian market:

• The firm has built a substantial presence in the region over the past 15 years.
• Blackstone's strategic investments span various sectors and countries across Asia.
• The reorganization aims to ensure continued growth and capitalize on emerging opportunities in the Asian real estate market.

As Blackstone navigates this transition, the new leadership structure is poised to build upon the firm's strong foundation in Asia, leveraging local expertise and global resources to drive future growth in the region's dynamic real estate sector.

Blackstone Inc. , a leading global investment firm, has made a significant move by withdrawing from the consortium of investors seeking a minority stake in TikTok's US operations. This development marks a shift in the ongoing saga surrounding the popular social media platform's future in the United States.

Consortium Reshuffling

The private equity giant has opted to transfer its potential stake to other members of the consortium. The remaining key players in the group include:

• Oracle Corp
• Andreessen Horowitz
• General Atlantic

This consortium had previously been identified by former President Donald Trump as a potential buyer that would enable TikTok to continue its operations in the US while separating from its Chinese parent company, ByteDance Ltd.

Deal Extension

The Trump administration had previously set a deadline for finalizing the deal. However, a 90-day extension has been granted, pushing the expiration date to mid-September. This extension provides additional time for the consortium to navigate the complex negotiations and regulatory landscape surrounding the acquisition.

Implications and Next Steps

Blackstone's withdrawal from the consortium raises questions about the dynamics of the potential deal. While the reasons for Blackstone's exit have not been disclosed, the move could potentially impact the structure and valuation of the proposed acquisition.

The remaining consortium members now face the task of restructuring their bid and potentially redistributing the stake that Blackstone was set to acquire. As the mid-September deadline approaches, all eyes will be on the consortium's ability to finalize the deal and address the concerns raised by the US government regarding TikTok's ownership and data security.

The outcome of this high-profile negotiation could have far-reaching implications for international technology investments and data privacy regulations in the United States.