Blackstone Corporate Private Equity sets up office in San Francisco (NYSE:BX)
Blackstone’s (NYSE:BX) Corporate Private Equity business is establishing a team in San Francisco to bolster its technology investing efforts, the firm said Thursday. BX shares have risen 1.9% in Thursday morning trading.
Sachin Bavishi, a senior managing director, will move to San Francisco to lead and establish Blackstone (BX) Private Equity’s West Coast presence, along with other existing and new team members. He was previously based in New York and has been a member of the firm’s Private Equity team since 2013, focusing on investment opportunities in Technology, Media & Telecom.
“We have a long history of backing some of the world’s most innovative technology companies,” said Martin Brand, head of North America Private Equity and global co-head of Technology Investing. “Establishing a dedicated West Coast presence for our Private Equity business will help us to further enhance our offering for the management teams and companies we partner with.”
Bavishi will lead technology investments for Blackstone (BX) Private Equity out of the West Coast and Senior Managing Director Eli Nagler will lead that business’s technology out of the East Coast in partnership with recently hired Senior Managing Director David Schwartz.
Blackstone (BX) currently has more than 70 employees based in San Francisco across its business units, including through its Growth, Tactical Opportunities, Credit, Strategic Partners, Life Sciences, and BAAM investing platforms.
In July 2021, Blackstone invested in Simplilearn, an online learning platform based in Bangalore, India, and San Francisco.