Blackstone’s China Real Estate Head Tim Wang Leaves After 10 Years

(Bloomberg) -- Tim Wang, a senior managing director at Blackstone Group Inc., is leaving after 10 years at one of the world’s biggest alternative asset managers, people familiar with the matter said.

Wang will remain with the New York-based firm until end of the year, one of the people said, asking not to be named discussing a private matter. Wang couldn’t be reached for a comment and a Blackstone spokeswoman declined to comment.

Earlier this year, Blackstone dropped a plan to buy assets from Soho China Ltd. amid concerns over the impact of the pandemic and financing, people familiar said at the time.

Wang joined Blackstone in 2010 and has been involved deals including the $400 million purchase of a 40% stake in SCP Co., a Shenzhen-based shopping mall developer, and the $1.2 billion acquisition of a Shanghai mall and office towers from Singapore’s Mapletree Investments Pte.

Before joining Blackstone, Wang worked at Bank of America Merrill Lynch’s real estate principal division in China.

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