Blackstone reshuffles Asia team in light of Asia private equity head Michael Chae's return to the New York office.

Blackstone Group head of international private equity Michael Chae is returning to New York in June 2014 spending over three years leading the Asia-Pacific business, according to an internal memo seen by this publication. 

Chae, previously a senior managing director, was named the head of private equity in Asia in December 2010. During this time, Blackstone was able to grow its Asian headcount by more than 100 per cent to 225 and then opened a Singapore office in 2013, said the memo sent by Hamilton James, the company's president.

While Chae will soon be based in the US, he will remain as the head of private equity for Asia and will continue to oversee the division from the New York office. He also resumes his old role as head of global media and communications investments and will oversee the tactical opportunities fund. 

Ed Huang and Yi Luo, both senior managing directors, will lead private equity investing in China, while James Carnegie and Jan Nielsen will oversee the rest of Asia. Chris Heady, currently the head of real estate for Asia, will oversee the investor relations and business development team in the region alongside Chae. Gautam Banerjee, chairman of Blackstone Singapore, will become co-chair of the Asia operating committee. 

Blackstone's Asia offices are located Hong Kong, Beijing, Mumbai, Seoul, Shanghai, Singapore, Sydney and Tokyo.