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After 24 years at Blackstone, Alan Miyasaki is leaving his role as head of real estate Asia acquisitions, with Luigi Caruso set to take over as part of a wider regional restructuring aimed at boosting operational agility and strategic focus.<\/p>\n<\/div>\n
Alan Miyasaki, senior managing director and head of real estate Asia acquisitions at Blackstone, is set to depart the firm after a notable 24-year tenure, with 18 of those years dedicated to expanding Blackstone\u2019s footprint across Asia. Based in Singapore, Miyasaki has been instrumental in overseeing the company\u2019s real estate investment activities throughout the region, including key markets such as China, India, Singapore, Japan, South Korea, Australia, and New Zealand. Known for steering landmark deals like AirTrunk, Crown Resorts, and Tokyo Garden Terrace Kioicho, Miyasaki’s leadership helped transform Blackstone\u2019s Asian real estate operations into one of the region\u2019s largest platforms, supported by a team of over 130 professionals. According to reports, he is returning to the United States to be closer to family in Utah but will remain with Blackstone through 2026 to support a smooth transition.<\/p>\n
Miyasaki will be succeeded by Luigi Caruso, currently Blackstone’s chief operating officer for real estate Europe. Caruso, based in London, is expected to relocate to Singapore in January to take over the role. With a strong background in managing European real estate assets valued at over $120 billion, Caruso has led Southern Europe acquisitions and served as COO of asset management, focusing on hospitality and residential sectors. Before joining Blackstone in 2017, he worked with Rh\u00f4ne Group and Goldman Sachs\u2019 real estate private equity groups in London and New York. Caruso’s experience includes overseeing hospitality investments through platforms like Hotel Investment Partners, which Blackstone co-owns with Singapore\u2019s GIC, and managing UK-based assets such as Village Hotels and Bourne Leisure. His strategic focus on operational efficiency, procurement synergies, and service-oriented value creation aligns with Blackstone\u2019s broader goals, especially amidst evolving market dynamics.<\/p>\n
Blackstone\u2019s restructuring in Asia also includes promotions within the region, with Asheesh Mohta named country head of real estate in India and Tuhin Parikh appointed vice chairman of real estate for Asia and executive chairman of real estate India. These moves underscore Blackstone\u2019s commitment to deepening local leadership during a period of strategic transformation. The firm is reportedly focusing on income-generating assets and residential and commercial sectors, as evidenced by recent equity investments in India\u2019s Embassy Developments Ltd. Caruso\u2019s role will be critical in integrating his European operational expertise with Asia’s complex, fragmented regulatory landscapes and competitive acquisition environment.<\/p>\n
While Miyasaki\u2019s departure raises questions about the loss of institutional knowledge in a market where long-term relationships and local expertise have been key to Blackstone\u2019s success, the firm appears confident that Caruso\u2019s proven operational agility and sector diversification will enable it to maintain its leadership position in Asian real estate. Blackstone\u2019s wider leadership changes reflect an ongoing effort to strengthen governance and client engagement as it navigates macroeconomic uncertainties and competitive challenges in both the Asian and European markets.<\/p>\n