The Blackstone Group has named Michael Chae, a senior managing director in the firm's Private Equity Group, to the role of head of Private Equity in Asia, based in Hong Kong.

Chae will also assume responsibility for the firm’s limited partner marketing personnel in Asia/Pacific and will coordinate firm-wide relationships with the firm’s most important limited partners in the region.

Since joining Blackstone in 1997, Chae has led some of Blackstone’s most significant investments, including Nielsen, Michaels Stores, The Weather Channel Companies, and Hilton Hotels.

Blackstone said Ben Jenkins will continue in his key role of driving private equity transactions throughout the region.

Antony Leung will remain as Blackstone’s chairman for Greater China on a firm-wide basis and will join the firm’s Executive Committee.

Blackstone chairman and CEO Stephen Schwarzman said he is delighted that Michael will head t6he firm’s business in Asia and, under his leadership, the firm will be better positioned than ever to capture an ever-growing number of opportunities.