Blackstone Group CEO and Co-Founder Steve Schwarzman speaks at a Reuters Newsmaker event in New York, U.S., November 6, 2019.  REUTERS/Gary He

Private-equity giant Blackstone just hired an Amazon Web Services exec in an effort to scout out tech deals.
Christine Feng, a director in corporate development at AWS, joins Blackstone as senior managing director, three months after Blackstone poached another tech-focused dealmaker, Vini Letteri, from KKR. Both staff the firm’s San Francisco office.
Blackstone’s head of tactical opportunities, Chris James, laid out why the firm is doubling down on tech, an area that’s proven resilient throughout the pandemic.
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Private-equity giant The Blackstone Group has hired a dealmaker from Amazon Web Services to scout out tech opportunities in Northern California, in a sign that Wall Street’s large investors are looking to better compete in an area traditionally dominated by specialty players.

Of all the industries that have been slammed by the pandemic, tech is one that’s stayed relatively resilient, and private-equity executives have told Business Insider to expect to see a greater focus on investing there, specifically in software companies.

Chris James, the head of Blackstone’s tactical opportunities group — a unit designed to quickly deploy capital in special situations — shared with Business Insider that the firm has brought onboard Christine Feng, a director in corporate development …read more

Source:: Businessinsider – Finance


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