Blackstone has chosen a new managing director for its recently launched growth equity investing platform, Blackstone Growth.
Ann Chung has taken the role, where she will be held responsible for leading the group’s consumer sector vertical.
Blackstone launched the platform last year, aiming to provide capital to companies seeking to minimise execution risks associated with high-growth environments. Its recent investments have included MagicLab, a dating and social network app provider.
Jon Korngold, senior managing director and head of Blackstone Growth commented: “Ann’s excellent track record and deep experience in partnering with fast-growing companies in the consumer sector are an important addition as we continue to build a world-class growth equity business.
“We’re excited to welcome her to the Blackstone Growth team given how important consumer-facing businesses are to our firm.”
Prior to joining the company, Ms Chung worked at J.H. Whitney Capital Partners, where she helped lead investments in the consumer sector.
Earlier in her career, she had worked at L Catterton and Swander Pace Capital, private equity firms focused on consumer brands.
Speaking on her new role, Ms Chung said: “Fast-growing consumer companies face unique opportunities and challenges that require a holistic set of resources and relationships beyond that which traditional growth equity firms can typically provide.”
“As such, these companies are especially well positioned to benefit from Blackstone’s scale, global footprint and exceptional operating expertise in helping entrepreneur-led businesses become global leaders. I’m thrilled to join Jon and the BXG team as we execute on that mission.”
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].