Blackstone Bolsters Asia-Pacific Credit Business as It Eyes Growth

By Nick Hedley

New York-listed alternative investment manager Blackstone has appointed Mark Glengarry as Head of Asia-Pacific Origination at its credit unit, BXC.

Glengarry joins Blackstone from Anchorage Capital Group, where he was a managing director in the London and Sydney offices. Based in Sydney, he managed private investments across the credit, special situations, and illiquid areas, with a focus on Europe and the Asia-Pacific region.

He was previously at Morgan Stanley’s investment banking division and has worked at White & Case as a partner in the banking and finance practice. 

“Private credit has become a larger part of the credit markets in the U.S. and Europe, and we believe the same trend will play out in Asia in the near term,” Dwight Scott, Global Head of BXC, said in a statement.

“We see tremendous opportunity across the region for creative solutions that help companies grow and navigate the increasingly complex market environment.” 

Paulo Eapen, Head of Blackstone Credit’s European business, recently took on the additional responsibility of leading BXC in the Asia-Pacific region.

“This is an opportune time to establish our Asia presence at an exciting period of fast growth for our Blackstone Credit business globally,” Eapen said. “We’ll look to replicate the success of our North American and European platforms in the region, which is seeing a rising demand for private capital overall.” 

Blackstone Credit has $230 billion in assets under management. In 2021, it participated in 19 direct lending deals worth more than $1 billion, including investments in Auctane (formerly and Inovalon, where BXC supported one of the largest healthcare software take-private deals in history.