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Blackstone Opens Singapore Office in Expansion Drive

Blackstone Group LP, the world’s biggest manager of alternative assets, will seek more investments in Southeast Asia following the opening of an office in Singapore seven years after entering the Asia-Pacific region.

Blackstone, led by Chief Executive Officer Stephen Schwarzman, has more than $5 billion of Asian assets, of which more than half are in real estate. Singapore will be the firm’s second office with treasury functions after New York, according to the company, which manages about $248 billion worldwide.