Blackstone Group LP said venture capitalist Jim Breyer joined the alternative-asset manager’s board of directors.
The addition expands New York-based Blackstone’s board to 12 members. The group includes five internal directors -- Steve Schwarzman, Tony James, Tom Hill, Jon Gray and Bennett Goodman -- as well as Richard Jenrette, Shelly Lazarus, Jay Light, Brian Mulroney, William Parrett, Peter Grauer and Breyer.
Breyer, 54, is best known for being one of Facebook Inc.’s earliest backers while at Accel Partners. In 2006 he formed Breyer Capital, a venture capital and private equity firm that invests in the U.S. and China. He’s a director at 21st Century Fox Inc. and has served on the boards of Facebook, Marvel Entertainment LLC, Etsy Inc., Dell Inc. and Wal-Mart Stores Inc., among others.
“Jim’s deep knowledge of emerging technologies, large businesses and academic research universities will add significant expertise to our team at Blackstone to ensure that we continue to innovate,” Schwarzman, Blackstone’s co-founder and chief executive officer, said in a statement Thursday announcing the appointment.
Blackstone, started by Schwarzman and Peter G. Peterson in 1985, managed $344 billion in private equity holdings, real estate, credit assets and hedge funds as of March 31.
Grauer, who joined the company’s board earlier this year, is chairman of Bloomberg LP, the parent of Bloomberg News.