The Blackstone Group (NYSE:BX) has appointed Martin Donnelly s a Managing Director in its Sydney, Australia office. He will head business development and client relations in Australia and the Pacific Rim for Blackstone Alternative Asset Management (BAAM), the world’s largest provider of customised hedge fund solutions for institutional investors.
Donnelly was most recently Deputy Chief Executive Officer at ING Investment Management Australia. He joins Philip Levinson as the second Managing Director in Blackstone’s Sydney office. This office opened in December 2009.
J Tomilson Hill, Blackstone’s Vice Chairman and Head of BAAM, says: “We are delighted to have someone with Martin’s depth of experience in asset management join us. As investors look both for attractive returns and capital preservation, they are increasingly turning away from traditional investment vehicles to our customized solutions, using uniquely tailored combinations of hedge funds and other proprietary exposures created by BAAM.”
Donnelly adds: “Blackstone is one of the world’s leading asset managers. With Australia as one of the largest and most sophisticated markets in the region, I anticipate a growing demand for what BAAM offers both here and in the region.”
Before joining ING in 2007, Donnelly was a Director of Institutional Business at Barclays Global Investors. Before Barclays, he spent seven years with Deutsche Asset Management, both as a Senior Associate Director in Business Development and later as a Vice President at DB Capital Partners.
BAAM, as of December 31, 2010, manages USD33 billion for its clients globally.