US-based private equity firm Blackstone Group (BX.NYSE) has hired Ed Huang as managing director for China, Reuters reported, citing sources familiar with the matter. Huang was formerly with Morgan Stanley’s (MS.NYSE) Asia private equity unit, where he was heavily involved in the privatization of Sihuan Pharmaceutical Holdings Group (0460.HKG). That deal became a noted example of gains that could be made through privatization and re-listing. The stock gained 28% in an October 2010 Hong Kong IPO. Huang will join Yi Luo in covering Greater China under the leadership of Michael Chae, who moved to the region from Blackstone’s New York office in 2010. “We are long-term very bullish about China,” Chae said.
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