San Francisco becomes home to Blackstone Corporate Private Equity’s new office

Blackstone

San Francisco becomes home to Blackstone Corporate Private Equity’s new office to support its technology investing initiatives; Blackstone’s (NYSE:BX) Corporate Private Equity arm is forming a team in San Francisco, the company announced on Thursday. In early trading on Thursday, BX stock had increased 1.9%.

Senior managing director Sachin Bavishi will relocate to San Francisco alongside other current and new team members to oversee and create Blackstone (BX) Private Equity’s West Coast presence. Since 2013, he has worked as a member of the firm’s Private Equity team, focusing on investment possibilities in the technology, media, and telecom sectors. He was formerly stationed in New York.

We have a long history of backing some of the most innovative technology businesses in the world, said Martin Brand, president of North America Private Equity and global co-head of Technology Investing. The statement reads: “By establishing a dedicated West Coast presence for our private equity company, we will be better equipped to service the management teams and businesses we partner with.”

Blackstone (BX) Private Equity’s technology investments will be led by Bavishi from the West Coast, while the company’s technology will be led by Senior Managing Director Eli Nagler from the East Coast in collaboration with recently hired Senior Managing Director David Schwartz.

More than 70 workers from Blackstone (BXvarious )’s business divisions are currently situated in San Francisco, including those from its Growth, Tactical Opportunities, Credit, Strategic Partners, Life Sciences, and BAAM investing platforms.

Simplilearn, an online learning platform with offices in Bangalore, India, and San Francisco, received funding from Blackstone in July 2021.

The world’s largest alternative asset manager is Blackstone. For our investors, the businesses we back, and the areas where we do business, we aim to generate long-term value and beneficial economic impact. We accomplish this by working with exceptional people and adaptable finance to assist businesses in finding solutions. Investment vehicles with a global focus on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds make up our $941 billion in assets under management.

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