Blackstone has appointed Peter Hwang as chief executive officer of DragonCor, the logistics platform in China owned and managed by Blackstone Real Estate funds. Hwang will oversee the management and development of DragonCor, a nation-wide portfolio of high-quality modern warehouses spanning 5 million square metres, which includes the largest urban logistics park in the Greater Bay Area where Blackstone has a majority stake.
Previously, Hwang was managing director, Asia, at Iron Mountain, a global leader in information management, where he has led a number of successful mergers and acquisitions. Under his leadership, the company’s revenue in Asia grew significantly, making it the region’s leading document and data management company. Prior to this, he was with the Zuellig Group as group general manager, business development.
“Hwang, a recognized leader, will spearhead the continued growth of DragonCor,” says Justin Wai, managing director, Blackstone Real Estate. “He brings years of experience leading a regional team and orchestrating major transactions, and we’re confident he’ll play an important role in building our rapidly growing China logistics platform.”
Blackstone Real Estate’s managing director Cliff Chen adds: “Blackstone has built the DragonCor portfolio over the last three years into a collection of carefully selected high-quality logistics assets strategically located in China’s major hubs, with a diversified tenant base across fast-growing sectors like technology and third-party logistics.”