Buyout giant Blackstone Group is coming to Canada, hiring a local private equity specialist to look for transactions north of the border.
New York-based Blackstone is bringing on Andrew Lapham, a former deal maker at Onex Corp., as an executive adviser. He will be based in Toronto.
Blackstone is the world’s largest manager of so-called alternative investments, which include real estate and private equity. In total, it manages $272-billion (U.S.) of assets. Globally, it is behind some of the largest mega-buyouts in history, such as the $39-billion (U.S.) purchase in 2007 of Equity Office Properties. However, it has not had a big presence in Canada.