BENGALURU: Blackstone has launched a global capability centre (GCC) in Bengaluru, its first outside the US, underscoring India’s growing importance to the investment firm’s global operations. The move comes as the firm looks to double its India investments to $100 billion over the next five years from about $51 billion to date.Blackstone vice-chairman and CFO Michael Chae said the Bengaluru team would be closely integrated with the firm’s global operations and support functions spanning finance, technology, human resources, legal and compliance.

“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 centre is not intended to function as a standalone unit. Its expansion reflects the firm’s growing operational needs as Blackstone’s assets under management have quadrupled over the past decade to nearly $1.4 trillion.The Bengaluru GCC is led by Susan Yung, senior MD in credit and insurance investment operations. Yung previously worked in India and was managing director at Goldman Sachs’ captive centre in Bengaluru. Blackstone has also hired senior leaders across key functions, including engineering, which will work with the firm’s global chief technology officer.The Bengaluru team is expected to grow to 100 or more by the end of the year, Chae said.