Blackstone hires Kimberly Kim from BlackRock for Apac insurance role

The US investment giant exceeded its $10bn target after an active 24 months of deals in the region, especially in India and Japan.

The UK bank said the sale was part of its "simplification" strategy and follows the sale of its life insurance business in Singapore to Allianz and Indonesian retail book to OCBC; Blackstone described the deal as "the largest home loan portfolio transaction globally".

As corporate governance and sentiment improves, Japan's PE market has become one of the most attractive in Asia.

Blackstone has bought 9.9% of India’s Federal Bank and a stake in India’s Ace Insurance Brokers.

The alternative asset manager is backing a South Korean motion-control technology provider at a reported valuation of $676m; Blackstone has also appointed former KKR executive Ami Momaya as its first dedicated infrastructure hire in Asia Pacific.

If the bid for the listed IT services provider is successful, it will be Blackstone's largest deal in Japan.