(Bloomberg) -- Blackstone Inc. has hired Credit Suisse’s former chief executive officer for Asia Pacific, Helman Sitohang, as the world’s biggest alternative asset manager expands in the region, people familiar with the matter said.

Sitohang joins Blackstone as senior adviser based in Singapore, supporting the firm’s businesses in Southeast Asia, mainly in private equity, according to the people, who asked not to be identified discussing private information. 

Sitohang remains chairman of OCP Asia, the people said. He joined OCP Asia — a provider of private credit to small- and medium-sized companies in APAC — last year following the acquisition of Credit Suisse by UBS Group AG. Sitohang held a variety of roles at Credit Suisse, including managing its Southeast Asia business and the investment bank for APAC. He was a member of the executive board. 

Representatives for Blackstone and OCP Asia declined to comment. Sitohang didn’t reply to requests for comment.

Blackstone, which had more than $1 trillion in assets under management at the end of 2023, has been increasingly active in Asia, helping finance the buyout of Hong Kong-listed L’Occitane International SA by billionaire owner Reinold Geiger. It is also betting on Japanese manga with a $1.7 billion deal to buy digital comic producer Infocom Corp.

Earlier this year, Blackstone announced the expansion of its private equity business to support a growing commitment to Southeast Asia. Aravind Krishnan relocated to lead the team’s expansion in Singapore.

--With assistance from Manuel Baigorri.

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