Blackstone (NYSE:BX) announced that Ann Chung has joined the firm as a Managing Director in its Growth Equity investing platform, Blackstone Growth (“BXG”), where she will help to lead the group’s consumer sector vertical.
Last year, Blackstone launched BXG, led by Jon Korngold. BXG aims to provide capital to companies seeking to minimize the execution risks associated with high-growth environments. Recently, BXG announced an investment in MagicLab, a fast-growing consumer product company, which builds and operates leading dating and social networking apps, including Bumble and Badoo.
Jon Korngold commented: “Ann’s excellent track record and deep experience in partnering with fast-growing companies in the consumer sector are an important addition as we continue to build a world-class growth equity business. We’re excited to welcome her to the Blackstone Growth team given how important consumer-facing businesses are to our firm.”
Ann Chung added: “Fast-growing consumer companies face unique opportunities and challenges that require a holistic set of resources and relationships beyond that which traditional growth equity firms can typically provide. As such, these companies are especially well-positioned to benefit from Blackstone’s scale, global footprint and exceptional operating expertise in helping entrepreneur-led businesses become global leaders. I’m thrilled to join Jon and the BXG team as we execute on that mission.”
Prior to joining Blackstone, Ms. Chung worked at J.H. Whitney Capital Partners, where she helped lead investments in the consumer sector. Earlier in her career, she also previously worked at L Catterton and Swander Pace Capital, private equity firms focused on consumer brands. Ms. Chung holds a B.S. in Commerce from The McIntire School at the University of Virginia and an MBA from The Wharton School at the University of Pennsylvania.
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