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Laxman Pai, Opalesque Asia:

Investment giant Blackstone Group hired Tanya Barnes, a former managing director at Goldman Sachs Group, as a Managing Director to lead a new impact investing strategy, as pension plans and other institutions seek to put money into more businesses with social and environmental benefits.

The new venture will be part of the firm's strategic partners group and aims to deliver positive financial impact via the following themes: health & well-being; financial access; sustainable communities; and, green technologies.

The initiative will build on Blackstone's previous investments in impact themes, and on Strategic Partners' vast sourcing capabilities and partnerships with investment managers.

Jon Gray, Blackstone President & COO, said: "As a firm, we seek to deliver value for our investors while also having a positive impact on the communities in which we operate. The impact platform is an exciting growth area and a natural extension of our business. We look forward to meeting the growing demand for impact investments."

Verdun Perry, Global Head of Strategic Partners, said: "We are thrilled to welcome Tanya Barnes to our team and to announce the launch of this initiative. Our impact platform has a powerful value proposition and significant growth potential. We believe it will greatly expand our ability to generate positive, measurable social and environmental impact, while making the companies we invest in more valuable."

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