Blackstone Hires Ann Chung as Managing Director to Lead Growth Equity Business’ Consumer Sector Investments
February 14 2020 - 8:54AM
Business Wire
Blackstone (NYSE:BX) announced that Ann Chung has joined the
firm as a Managing Director in its Growth Equity investing
platform, Blackstone Growth (“BXG”), where she will help to lead
the group’s consumer sector vertical.
Last year, Blackstone launched BXG, led by Jon Korngold. BXG
aims to provide capital to companies seeking to minimize the
execution risks associated with high-growth environments. Recently,
BXG announced an investment in MagicLab, a fast-growing consumer
product company, which builds and operates leading dating and
social networking apps, including Bumble and Badoo.
Jon Korngold commented: “Ann’s excellent track record and deep
experience in partnering with fast-growing companies in the
consumer sector are an important addition as we continue to build a
world-class growth equity business. We’re excited to welcome her to
the Blackstone Growth team given how important consumer-facing
businesses are to our firm.”
Ann Chung added: “Fast-growing consumer companies face unique
opportunities and challenges that require a holistic set of
resources and relationships beyond that which traditional growth
equity firms can typically provide. As such, these companies are
especially well-positioned to benefit from Blackstone’s scale,
global footprint and exceptional operating expertise in helping
entrepreneur-led businesses become global leaders. I’m thrilled to
join Jon and the BXG team as we execute on that mission.”
Prior to joining Blackstone, Ms. Chung worked at J.H. Whitney
Capital Partners, where she helped lead investments in the consumer
sector. Earlier in her career, she also previously worked at L
Catterton and Swander Pace Capital, private equity firms focused on
consumer brands. Ms. Chung holds a B.S. in Commerce from The
McIntire School at the University of Virginia and an MBA from The
Wharton School at the University of Pennsylvania.
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our asset management
businesses, with $571 billion in assets under management, include
investment vehicles focused on private equity, real estate, public
debt and equity, growth equity, opportunistic, non-investment grade
credit, real assets and secondary funds, all on a global basis.
Further information is available at www.blackstone.com. Follow
Blackstone on Twitter @Blackstone.
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Matt Anderson +1-212-390-2472
matthew.anderson@blackstone.com
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