The Blackstone Group has appointed Philip Levinson as a managing director, effective 6 July.

The Blackstone Group has appointed Philip Levinson as a managing director, effective 6 July.

Levinson will be responsible for raising capital for Blackstone's suite of funds, maintaining client relationships and participating in the development of new products for institutional investors across the entire Asia Pacific region.

He joins from Rreef, the global real estate, infrastructure and private equity platform of Deutsche Asset Management.

Stephen A. Schwarzman, Blackstone's chairman and chief executive, says: 'Philip Levinson's appointment reflects both the increasing sophistication of Asian institutional investors as they turn to alternative assets as an integral part of their portfolios and the increasing importance of Asian capital markets in global investment flows.'

Levinson says: 'I am delighted to be joining the world's largest alternative asset manager. Its brand and unparalleled track record in producing returns for its investors over a considerable period of time will make Blackstone of great interest to institutions throughout the Asia Pacific region.'