Blackstone is expanding its operational footprint in India with a new global capability centre (GCC) in Bengaluru. The facility is the investment firm’s first GCC outside the US and supports its plan to double its investments in India to $100 billion over the next 5 years, from approximately $51 billion invested so far.
Blackstone Vice Chairman and CFO Michael Chae said the centre will work closely with global teams across finance, technology, human resources, legal affairs and compliance. It will support the firm’s international operations rather than function as a standalone back-office facility.
“We have about 170 employees in India, of whom around 90 are in Mumbai, our headquarters. We have been running our investment operations in Mumbai very successfully for two decades now. Bengaluru currently has about 80 employees, and that team will grow, as will our Mumbai team. They will work closely with our teams around the world to help drive our operations globally”, Chae said.
The Bengaluru centre aims to have at least 100 employees by the end of the year. Susan Yung, senior managing director for credit and insurance investment operations, leads the facility. She previously worked in India and served as managing director at Goldman Sachs’ Bengaluru captive centre. Blackstone has also hired senior professionals across key functions, including engineering. The engineering team will work directly with the firm’s global chief technology officer.
Expanding India operations and technology investments
Blackstone’s assets under management have quadrupled over the past decade to nearly $1.4 trillion, increasing the scale of its global operations.
Its Indian portfolio covers financial services, technology, commercial real estate, manufacturing, travel and leisure, and e-commerce. Investments include Mphasis and Federal Bank. The firm holds around $22 billion in Indian real estate assets and controls more than 150 million square feet of office and retail space. Its properties support technology companies and other GCC operators. Blackstone-backed businesses have also participated in 5 of India’s 6 real estate investment trusts (REITs), including Embassy REIT.
Chae said concerns about AI-driven job losses and reduced office demand may be premature. “We don’t see AI as some existential negative for IT services companies. Like most businesses, there’s an opportunity to get ahead of the risk of disruption and enable their own tools and services”, he said.
He cited Mphasis as an example of AI adoption to strengthen competitiveness. Blackstone continues to assess technology service providers based on their value to portfolio companies, noting that many businesses prefer established IT partners rather than building every AI capability internally.
The firm is also investing in luxury hospitality, AI infrastructure and technology, including Neysa and AirTrunk. Its logistics platform, Horizon Industrial Parks, has grown into India’s largest logistics park platform.
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