Blackstone's China unit gets nod to raise funds for overseas investments

Blackstone's China unit gets nod to raise funds for overseas investments

FILE PHOTO: Signage is seen outside The Blackstone Group headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly

Blackstone’s newly established China unit has received regulatory approval to raise funds that will be invested overseas, joining other global asset managers in seeking to tap Chinese investor demand for foreign assets.