James Carnegie Lands in Blackstone Group LP’s Sydney Office
Blackstone Group LP’s Sydney office, a signal the New York-based global investment company is striving to do its first Australian buyout, is pleased to announce the addition of James Carnegie, a former partner at private equity firm Archer Capital.
Carnegie has been appointed a senior managing director at Blackstone, a statement emailed to DataRoom says. He was previously a senior adviser to the firm in Australia.
Paul Costello, Blackstone’s former Australia and New Zealand chairman, resigned last year after about two years at the firm.
Costello was charged with supporting Blackstone’s fund-raising efforts in Australia as the US firm targeted a portion of the $1.6 trillion held by superannuation funds for its private equity, credit, real estate, hedge fund and mutual fund businesses.
Founded in 1985 as a takeover adviser by Steve Schwarzman and Pete Peterson with US$400,000, New York Stock Exchange-listed Blackstone managed US$248 billion in assets as of September 30, 2013.Source: Business Spectator